10:30 AM EDT, 06/30/2025 (MT Newswires) -- Banco Santander (SAN) submitted a binding offer for TSB, the British unit of Banco Sabadell, valuing the lender at more than 2.3 billion British pounds ($3.15 billion), Reuters reported Monday, citing people familiar with the matter.

Sabadell's board is expected to meet as early as Tuesday to consider the offer and potentially select a winning bid, the report said, adding that other potential bidders include Barclays ( BCS ) .

The potential sale comes as Sabadell faces a takeover attempt by rival BBVA (BBVA), with analysts viewing the TSB process as a possible defensive move.

Santander and Sabadell declined to comment on the ongoing process, Reuters said.

None of the companies immediately responded to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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