23rd Sep 2013 14:16
LONDON (Alliance News) - W&G Investments PLC has made a last-ditch improved offer for 315 Royal Bank of Scotland Group PLC branches, Sky News City Editor Mark Kleinman reports.
RBS declined to comment, while W&G was not immediately available.
The new bid would see W&G Investments making a "substantially-higher payment to the taxpayer-backed lender", Kleinman said without citing sources.
RBS would receive additional payments on top of the GBP1.1 billion cash offer by W&G, taking the offer above GBP1.5 billion, he said.
The branches are being sold at the request of the European Commission, as a condition of the British bank's 2008 bailout.
RBS shares were Monday quoted at 361.7 pence, down 2.7 pence, or 0.7%.
http://news.sky.com/story/1144885/city-funds-in-last-ditch-bid-for-rbs-branches
By Samuel Agini; [email protected]; @samuelagini
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