PHILADELPHIA, Oct. 13 /PRNewswire-FirstCall/ -- Sovereign Bancorp,
Inc., ("Sovereign") (NYSE: SOV), today confirmed that it is engaged in
advanced discussions with Banco Santander, S.A. (NYSE: STD) regarding a
possible business combination involving the two companies.
It is not possible currently to know whether such conversations will
lead to an agreement or not and there can be no assurances that an
agreement will be reached or that a transaction will be consummated.
Sovereign does not intend to comment further until an agreement is reached
or discussions are terminated.
About Sovereign
Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent
company of Sovereign Bank, a financial institution with principal markets
in the Northeastern United States. Sovereign Bank has 750 community banking
offices, over 2,300 ATMs and approximately 12,000 team members. Sovereign
offers a broad array of financial services and products including retail
banking, business and corporate banking, cash management, capital markets,
wealth management and insurance. For more information on Sovereign Bank,
call 1-877- SOV-BANK.
Forward-looking statements
Statements in this press release which are not historical facts are
"forward-looking statements" that involve risks and uncertainties,
including the results of proposed financing activities. For a discussion of
such risks and uncertainties, which could cause actual future events to
differ from those contained in the forward-looking statements, see
"Forward-Looking Statements" in Sovereign Bancorp Inc.'s Annual Report on
Form 10-K for the most recently ended fiscal year.
SOURCE Sovereign Bancorp, Inc.
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Related links:
http://www.sovereignbank.com
CONTACT:
Financial, Kirk Walters, +1-617-346-7346,
kwalter1@sovereignbank.com, or Stacey Weikel, +1-610-320-8428,
sweikel@sovereignbank.com, or Media, Andrew Gully,
+1-617-757-5513, agully@sovereignbank.com, or Ellen Molle,
+1-617-757-5573, emolle@sovereignbank.com, both of Sovereign
Bancorp, Inc.
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