Santander “To Acquire Bradford & Bingley”

Further to the news that Bradford & Bingley is to be partly nationalised and partly sold off to the private sector, it looks as if Spanish banking giant Santander is likely to acquire of B&B’s savings business.

With £20bn of savings, it’s a big chunk of cash and a lot of savers will be affected – but it’s worth reiterating that savers’ money will be safe, and they’ll join the customers of Abbey and Alliance & Leicester in the Santander group (indeed, Bradford & Bingley savings accounts will probably become Abbey accounts, if the deal goes through).

So B&B savers should be ok, but Bradford & Bingley staff might not be so lucky.

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