Royal Bank of Scotland’s sales process for Williams & Glyn has stalled amid difficulties in separating the latter’s activities from RBS’s technology, according to people with knowledge of the matter.
RBS had said last year that it aimed to start the sale of Williams & Glyn by the end of this month, and was targeting a binding sales agreement by the end of this year.
European Union rules require RBS to sell Williams & Glyn by the end of next year as part of the agreement under which RBS received state aid. A sales process could still be started later this year.
