Banco Santander Approached Sabadell About TSB Purchase, Sky Says

Banco Santander SA is among banks that have expressed interest in buying Banco Sabadell SA’s UK unit, Sky reported.

Spain’s largest lender has approached Sabadell about a possible purchase of its UK retail bank TSB, Sky said, citing people familiar with the matter. Santander hasn’t yet made an offer and TSB’s potential valuation in any takeover deal is unclear, Sky added.