Santander mulls IPO for UK arm

Spanish bank Santander is considering the sale of a minority stake in its UK arm through a stock market flotation to potentially repeat a windfall from a Brazilian spinoff last year, industry sources said.

Analysts and industry observers have been speculating about a potential public share offering for Santander's fast-growing UK arm since the euro zone's largest bank struck gold with the market debut of its Brazilian subsidiary in October last year.

The sources said several investment banks pitched the IPO idea to Santander as part of broader fundraising strategies and the idea was being considered by the bank.

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