Press Release: Mergers: Commission approves acquisition of RBS assets by Banco Santander

The European Commission approved under the EU Merger Regulation in November 2011 the proposed acquisition of a number of retail and commercial banking assets of Royal Bank of Scotland (RBS) in the UK by Banco Santander of Spain.

After a re-notification following changes to the previously approved operation, the Commission concluded that the amended transaction would not raise competition concerns, in particular because the overlaps between the parties' activities are very limited and Santander market shares will remain low in the UK.