Atom Bank facing potential takeover bid
Atom Bank is reportedly facing a possible takeover by Spain's second-biggest bank, BBVA.
According to Sky News, Atom is in talks with Citi over a potential appointment to discuss its options.
Atom Bank recently raised almost £150m from investors led by BBVA, which already owns around 40% of the digital bank.
Insiders say BBVA now has the option to acquire the remainder of the shares, with a takeover 'likely' during 2019.
If BBVA doesn't acquire Atom Bank, a further private fundraising or stock market listing is expected to take place later in the year.
Atom launched in 2016 and has since taken over £1.3bn in customer deposits.
Atom declined to comment on the appointment of Citi.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Lloyds
Lloyds Banking Group launches £5,000 deposit mortgage
Mortgage Rates
Barclays relaunches sub-4% mortgage rate
Bank Of England
Bank of England holds interest rates at 3.75% in 8-1 vote
FCA
FCA bans and fines director £755,000 for advice and insurance failures
Mortgages
Mortgage affordability at tightest level since 2008: UK Finance
Nationwide
Nationwide cuts mortgage rates by up to 0.36%
