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M&T and Santander Reportedly Talking Again | News

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M&T and Santander Reportedly Talking Again

BUFFALO, NY (WGRZ) -- Merger talks between Buffalo based M&T Bank and Spanish lender Santander are reportedly back on.

Forbes, The Financial Times and Bloomberg are all reporting that talks between M&T and Santander, which does business in the U.S. as Sovereign Bank, rekindled last month.

The Financial Times says negotiations have not yet resolved the issue of which entity would control the combined business, if the two banking giants agreed to merge.   

Two months ago, 2 On Your Side reported previous talks between the two entities stalled because M&T did not want to give up control.  At that time, sources told us M&T is more interested in growing than selling off assets. 

M&T's stock shot up $4.98 Tuesday to close at $90.43.

A spokesperson for M&T would not comment on the new reports, saying the bank "does not address rumors or speculation."  


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