Banco Santander (SAN) has reached out to Banco de Sabadell about a potential takeover of the latter's British high street bank, TSB, Sky News reported Wednesday, citing sources.
Santander is among those that have expressed interest in a possible transaction, but has not made a formal bid for TSB and isn't certain to do so, according to the report.
NatWest Group (NWG), Barclays (BCS) and HSBC (HSBC) are also touted as potential suitors for TSB but at least two of the three lenders are believed to have little interest in making an offer, the report said.
Goldman Sachs (GS) is believed to be advising Sabadell on a potential sale of TSB, the report said.
Santander and NatWest declined to comment when contacted by MT Newswires. Barclays, HSBC and Goldman Sachs didn't immediately respond to requests for comment, while Sabadell and TSB couldn't be reached for comment.
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