The Spanish major Santander confirmed its entrance in the bid for approximately 300 uptown branches being sold by the Royal Bank of Scotland. However the leading bank, RBS refused to comment on any of the financial details, but as per the market speculation this week suggests a deal which is worth about £1.8bn earlier this week.

According to the rumors, the Spanish Santander seems to be the only bidder, which expressed that it might not be possible for them to say when the tender process may conclude. Santander has been wrapping up the UK assets in the recent years, which includes in the list Abbey, Alliance & Leicester and the arm of Bradford & Bingley. After the deal for RBS's old Williams & Glynn businesses the Spanish buyer shall turn out a major player in the UK banking market with a 14% of the mortgage market and 10% of retail savings in its hands.

The group is seems keen on outstretching beyond its core of Spanish market, which has tumbled due to the fall-out of the credit crunch and the melt down in the property market. However it curtailed its exposure till Spain in 2007, which is shinning as a knight to guard them out of the storm, and has also been a navigational source by its extensive business in Latin America.

84% of the bank is being controlled by the taxpayer, until 2013 to sell the branches, which is set to meet the EU rules on state aid.