RBS 'may fund Spanish takeover of BAA'

Further signs of an imminent bid for BAA emerged today after it was reported Royal Bank of Scotland had a key role in funding a Spanish-led takeover.

The speculation over the financing involvement of RBS, alongside Citigroup, fuels expectations that a consortium led by Grupo Ferrovial is making progress putting together a £9bn (€13.1bn) offer for the Heathrow operator.