Tesco snaps up RBS insurance and financial services shareholding
Royal Bank of Scotland has announced plans to sell its 50% shareholding in Tesco Personal Finance to Tesco for £950m. The move could be seen as an admission that the bank is having to look elsewhere to raise money with bid interest in its insurance business on the wane ahead of Friday's deadline for suitors to show their hands.
As part of the TPF transaction, RBS added it will continue to provide "certain commercial services to TPF post completion", including its own branded insurance offerings.
In the year to 31 December
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