Does Canada want a piece of the Royal Bank of Scotland? - Macleans.ca
 

Does Canada want a piece of the Royal Bank of Scotland?


 

The British media was abuzz on Tuesday after a television news crew snapped images of hedge fund manager Davide Serra on his way to a meeting at the Prime Minister’s Office holding briefing papers that appeared to suggest that Canadian banks may be interested in buying a piece of the Royal Bank of Scotland.

ITV News noted that the briefing notes appeared to suggest that the RBS could become “more Canadian” and is “structurally attractive” despite ongoing financial problems. The note also included references to “TD, RBC and BMO” — a clear reference to three of the major Canadian banks.

British journalists suggested the bank, which took the equivalent of a $70-billion bailout in 2008 (45 billion pounds) and is now majority-owned by the UK government, was keen to sell off its U.S.-based Citizens Bank and that Canadian banks, which have been bulking up their U.S. portfolios since the financial crisis, might be a good target for the sale.


 

Does Canada want a piece of the Royal Bank of Scotland?

  1. Apparently UK needs to raise money and Canadians have some.

    Daily Telegraph May 2013

    Multi-billion dollar American and Canadian pension funds are being lined up to take stakes in Royal Mail when it is privatised, possibly as early as the autumn.