RBS considers hybrid selloff

Tim Wallace
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STATE-BACKED bank RBS is considering selling off a stake in the 316 branches it is being forced to offload, ahead of a larger share listing or sale, it emerged yesterday.

Such a move could drum up investor interest in the unit, dubbed Project Rainbow, by showing buyers are prepared to buy into the unit.

The branches were nearly sold to Santander but the deal fell through last year. The bank is not likely to announce its plan soon as it is still working through its options.