Santander UK is likely to acquire more than 300 branches from the state-backed Royal Bank of Scotland (RBS) for more than £100m less than the price agreed by the two banks last year. The Spanish group announced in August 2010 that it had struck a deal to buy the RBS network in England and the handful of NatWest branches in Scotland for £1.65bn. But I understand that the deteriorating UK economy and consequent impact on the profitability of the network currently means that the price Santander UK would eventually pay for the business would be closer to £1.5bn. That’s due to a price adjustment mechanism in the transaction which allows for a variation in price when the deal closes. Originally expected to completion within 12 to 18 months, Santander’s takeover of the branches is now unlikely to do so before November 2012....Read more this story----> http://news.sky.com/home/business/article/16078560