MADRID, Nov 4 (Reuters) - Spain’s Santander does not expect to list its UK unit on the stock market this year or next, Chief Executive Javier Marin said on Tuesday, echoing previous guidance it would not happen in the medium term.
“In terms of the IPO (initial public offering), there is nothing new (...) we will have to see the market environment,” Marin told a news conference after presenting third quarter results. “In any case it will not be this year or next.”
The listing has long been mooted. Santander has been turning around the UK unit, which now contributes 20 percent of profit on par with Brazil. (Reporting by Jesus Aguado, Writing by Sarah White; Editing by Paul Day)