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Santander CEO says UK unit IPO will not happen in 2014
January 30, 2014 / 10:02 AM / in 4 years

Santander CEO says UK unit IPO will not happen in 2014

MADRID, Jan 30 (Reuters) - Spain’s Santander will not launch an initial public offering for its British arm in 2014, Chief Executive Javier Marin said on an analyst call, adding that the listing is a mid-term plan.

Santander’s plans to spin off and float its UK arm, as it has done for other businesses in Mexico, Brazil and the United States, has been continually delayed by regulatory changes and a difficult economic backdrop, as well as Santander’s UK’s own restructuring to focus more on commercial lending.

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