VIRGIN Money held out the possibility it might acquire Bank of America’s UK credit card business.
Potential bidders could include Sir Richard Branson’s company – which is also bidding for Northern Rock – and Spanish-owned Santander, and wants to grow its UK business.
Asked whether Virgin Money would consider buying Bank of America’s credit card business, a spokesman said: “We are long-term partners with Bank of America. Our credit cards are issued by MBNA.
“No doubt we will be involved in the process as it goes forward.”
A spokesman for Santander in Madrid said the company would not comment on market speculation that it might also bid for MBNA.
Jonathan MacDonald, a London-based analyst at Datamonitor, said he believed the business would be sold rather than wound down.
He said: “It’s a fairly healthy business. It’s ripe for a sale.
Who picks it up is anybody’s guess right now. But I doubt it will be wound down – it’s quite a big operation.”
