Abbey National shareholders are set to mark the end of an era when they give their backing to a takeover by Spain’s largest bank today.

Spain’s largest bank received another boost in its bid to secure Abbey National tonight when the City watchdog said it saw no reason to block the deal.

Abbey National’s army of small shareholders were today given an easier route to selling shares in the company’s proposed new Spanish owner.

Spanish bank Santander Central Hispano today pledged to give up its two boardroom seats at Royal Bank of Scotland if it lands Abbey National.

The Spanish bank bidding to buy Abbey National insisted today that a rival offer from UK group HBOS would not necessarily derail its interest.

Around 3,000 jobs will be lost at Abbey National if the UK bank’s takeover by Spain’s Santander Central Hispano (SCH) goes ahead, it emerged today.

Abbey National staff were today expected to discover how many jobs will go in the bank’s planned takeover by Spanish group Santander Central Hispano (SCH).

EXPLOSIONS hit two Spanish coastal cities yesterday after a newspaper received a warning in the name of armed Basque separatist group ETA.

Shares in banking group Abbey were leading the stock market today after a report claimed it had received an informal takeover approach from a Spanish bank.

Share prices extended their losses in late afternoon trade, dragged down by Wall Street, while Union Fenosa and Sogecable underperformed on debt and liquidity concerns, dealers said.