Santander to shelve UK listing until 2013

The planned listing of Spanish bank Santander's UK operations on the London Stock Exchange is likely to be delayed until 2013 at the earliest, the Financial Times said on Friday.
The bank had already put off until at least next year its original plan for a 2011 flotation of its British arm, due to market conditions and regulatory uncertainty.
The newspaper cited people familiar with the plans as saying the additional delay is due to uncertainty created by this week's Independent Commission on Banking's recommendation that British banks separate their core retail businesses from wholesale activities.
A spokesman for Santander in Madrid, said the company had no comment on the report.
The plan is to float 20% of Santander UK, the subsidiary formed by the acquisitions of three former building societies.
The FT said while Santander UK is less severely affected by the ICB recommendation than some of its bigger rivals as it does not have a large investment banking division, about 5 to 10% of its activities would fall outside the retail ringfence.