'Major blow' as RBS and Santander deal is called off

RBS and Santander
RBS and Santander deal has been called off. Credit: Dave Thompson/PA Wire

The RBS and Santander deal is confirmed off - my source describes it as a "major blow" - official statements should be within the hour.

Santander pulled the plug - putting IT systems together was said to be the biggest obstacle.


Virgin eyes RBS branch sale

Virgin Money is being heavily linked to a bid for the network of Royal Bank of Scotland branches that failed to be bought by Santander.