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Santander withdraws offer for RBS' Williams & Glyn unit - FT

Reuters
A man walks past a branch of The Royal Bank of Scotland (RBS) in central London, Britain August 27, 2014. REUTERS/Toby Melville/Files

(Reuters) - Banco Santander SA (SAN.MC) has pulled out of talks to buy Royal Bank of Scotland Group's (RBS.L) Williams & Glyn unit, the Financial Times reported on Tuesday, citing people familiar with the matter.

Santander dropped negotiations because of price disagreements with RBS. Clydesdale and Yorkshire Banking Group is considering a bid for Williams & Glyn branches, the FT said. (http://on.ft.com/2cmylbD)

A spokesman at Santander UK said the bank had no comment. RBS was not immediately available for comment.

Santander made an offer for Williams & Glyn last month. RBS has sought to offload the small business lender, a key European Union condition of its taxpayer-funded rescue at the peak of the global financial crisis.

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Santander walked away from a deal to buy Williams & Glyn fours years ago amid concerns about its technology platform, three sources with direct knowledge of the matter told Reuters earlier this year.

(Reporting by Abinaya Vijayaraghavan in Bengaluru; editing by Susan Thomas)