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RBS in talks with Virgin One

Royal Bank of Scotland is understood to be in talks with Sir Richard Branson to buy his remaining 25 per cent stake in Virgin One.

RBS already owns 50 per cent of the lender but is keen to snap up Branson’s share and that of Australian giant AMP, which owns the other 25 per cent.

RBS has been looking to expand in the current account mortgage market and plans to offer a version of Virgin’s loan under its own brand.

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