Bloomberg News

Santander Talks to Fortress Over Loans Sale, Confidencial Says

March 05, 2012

Banco Santander SA (SAN) has held talks with Fortress Investment Group LLC (FIG) over the sale of a portfolio of unpaid consumer loans, El Confidencial reported.

The two sides broke off talks on the 1.2 billion-euro transaction on differences over valuations of the loans, El Confidencial said, citing people in the financial industry it didn’t identify by name. It’s likely Santander and Fortress will renew talks, the news website said.

A spokesman for Santander, who asked not to be identified by name in line with company policy, declined to comment on the report in a phone interview today.

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