Britain's Co-op bank confirms TSB approach

LONDON - Britain's Co-operative Bank confirmed on Monday that it expressed interest in potentially buying TSB from Spanish lender Banco de Sabadell.

The bank said that it sent a letter to Banco de Sabadell but that no discussions are currently taking place between the two banks.

Sabadell said on Saturday its board has rejected an offer from Co-operative Bank for its British subsidiary, after Sky News first reported about the approach.