NAB shares rose to $26.85 yesterday, the highest since October last year, on reports that the bank may have found a buyer for its troubled business in the United Kingdom.
The Sunday Times in the UK reported that a Spanish company, Santander, is considering a bid that is below NAB’s book value for the business.
Investors are urging NAB to offload the UK business, even at a loss, The Australian Financial Review reports. The NAB has not made any announcements to the ASX.
For more on NAB, see today’s profile of NAB director, Jillian Segal.