Reuters - Virgin Money Emerges as Bidder for RBS branches

Virgin Money has emerged as a frontrunner in a small field of potential suitors to buy 316 branches from majority state-owned Royal Bank of Scotland, after Santander pulled out of a deal, writes Reuters. The collapse of the sale was a major blow to RBSas it is now likely to have to accept a price well under the 1.65 billion pounds ($2.65 billion) agreed with Santander, writes Reuters. US private equity firm JC Flowers is also interested in a potential bid, with the firm keen to expand its small regional lender One Savings Bank, the Financial Times reported.

DealsNorth AmericaUSBriefs