LONDON: National Australia Bank has not ruled out an outright sale of its British business, after outlining preliminary plans to list Clydesdale Bank on the London Stock Exchange by the end of the year.
Debbie Crosbie, acting chief executive of the UK business, said on Thursday that NAB was keeping its options open. Although an initial public offer of the business is its preferred option, it would still consider an offer for the whole of the business, she said.
“I think to discount that would be naive and we wouldn’t do that. I think the business considers all options,” Crosbie told Reuters in an interview. Morgan Stanley is the main adviser to NAB.
