NAB shares go up as buyer emerges for its troubled UK business

NAB shares rose to $26.85 yesterday, the highest since October last year, on reports that the bank may have found a buyer for its troubled business in the United Kingdom. The Sunday Times in the UK reported that a Spanish company, Santander, is considering a bid that is below NAB’s book value for the business. Investors […]

Kath Walters 22 January, 2013

NAB shares rose to $26.85 yesterday, the highest since October last year, on reports that the bank may have found a buyer for its troubled business in the United Kingdom.

The Sunday Times in the UK reported that a Spanish company, Santander, is considering a bid that is below NAB’s book value for the business.

Investors are urging NAB to offload the UK business, even at a loss, The Australian Financial Review reports. The NAB has not made any announcements to the ASX.

For more on NAB, see today’s profile of NAB director, Jillian Segal.