Royal Bank of Scotland Group Plc rose in London trading as the Wall Street Journal reported that Sumitomo Mitsui Financial Group Inc. may bid for the Edinburgh-based lender’s U.S. retail banking unit.
Executives met to discuss the possible purchase, the newspaper reported, citing people familiar with talks.
RBS is Britain’s biggest state-owned lender. Sumitomo Mitsui is Japan’s second-biggest bank by market value.
The British bank is open to takeover offers for Citizens as it prepares the division for an initial public offering this year, said Bruce Van Saun, CEO of the Providence-based unit.
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