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Santander mulls UK flotation

Santander is reportedly considering a UK and US stock market flotation.

The Spanish bank completed an initial public offering of its Brazilian business in October, raising £4.4bn.

The Financial Times reports that Santander may float its UK business this year and then its US subsidiary Sovereign Bancorp in 2011 or 2012.

A flotation of UK businesses would allow the bank to realise capital gains.

Santander is reported to have been approached by five investment banks offering to help it with fundraising strategies.

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