Last month, when Royal Bank of Scotland announced that it was leading a 10% strategic investment in Bank of China for $3.1 billion, the focus was on what UK banks were acquiring overseas.
However, as one CFO of a major US bank points out, UK banks look like increasingly attractive acquisition targets themselves. “There could be an opportunity for some transatlantic acquisitions into the UK,” he says. “Where Barclays and Royal Bank of Scotland are trading right now makes them look very cheap.
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