Royal Bank of Scotland Group has begun to go through bidders for the 316 branches that regulators are forcing it to sell as UK fund managers face off against offers from US private equity firms, Bloomberg news agency reported unnamed people with knowledge of the discussions as saying.
The news agency claimed that a group of 20 UK institutions - including Schroders Plc and F&C Asset Management Plc - were expected to submit a bid before tonight's deadline, citing two unnamed people, who it said had asked not to be identified as the talks were private.
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