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 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.
Kath Walters
Kath Walters is the editor of LeadingCompany and an award-winning journalist of 15 years’ experience. Kath was previously a senior writer and editor at BRW magazine covering management, strategy, finance, entrepreneurship and venture capital across all industry sectors. In 2006, Kath won the Citibank Award for Excellence in Journalism (General Business). Follow her on Twitter @KathWalters
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