TSB faces uncertainty as its parent company, Banco Sabadell, has received interest from potential buyers amid an attempt to fend off a hostile takeover from BBVA. TSB, which has 175 branches, five million customers, and around 5,000 employees, may be sold as Sabadell assesses offers to reinforce its position in the competitive banking landscape. The interest in TSB, originally purchased for £1.7 billion, highlights its value amidst recent banking sector deal activity. Major UK banks are potential buyers due to TSB's customer network.
"The announcement signals that Sabadell is now open to strategic alternatives for its British arm, as it seeks to shore up its defences against BBVA's mounting pressure."
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