B&B branches to be sold, rest nationalised-govt

British lender Bradford & Bingley's branch network and deposit business will be sold to Spain's Banco Santander, and the remainder of the group would be nationalised, the UK government said.
B&B's branch network and deposit business will be combined with Abbey, the UK bank that Santander bought in 2004, the UK Treasury said in a statement on Monday.
Meanwhile it was announced that AIG is looking to sell more than 15 businesses to repay its USD 85bn government loan. AIG was prepared to sell most of its operations besides its international life insurance unit and US pensions businesses.
The FT reports that Goldman Sachs is looking to buy up to USD 50bn in assets from troubled US banks. The paper said GS was looking to buy assets as part of its transition into commercial banking.
Wachovia Corp was in advanced talks Sunday night to sell itself to Citigroup Inc or Wells Fargo. The WSJ said that Banco Santander was also interested in Wachovia but that scenario now appears less likely.