Are we going to get any Spanish lolly from the Banco Santander paper bid for UK mortgage bank Alliance and Leicester? Santander might end up bigger in the UK than in its home market of Spain. OK, that might be unlikely but the car manufacturer Volkswagen
has a presence in Brazil similar to the size of its operations in Germany.
www.searchifa.co.uk
With the share bids for Abbey National and Alliance and Leicester, Briitsh shareholders are accepting a major player in the UK banking market. Does it matter
if a foreigner holds a certain percentage of this market? Would the authorities be
so welcoming if some foreign group took over HBOS (Halifax Bank of Scotland)? Or perhaps the British authorities will give
Sr Emilio Botin, Santander chief, a knighthood for rescuing two mortgage banks?
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