Tesco may buy an online bank

According to the Financial Times; the Spanish Santander or the British Tesco may buy the Egg online bank from Citigroup. The Citigroup bought the Internet bank three years ago, for 575 million pounds.

The Egg is the part of Citi Holdings. The financial institution will sell the Internet bank because they want to reduce its core businesses.
The Egg was also a pioneer of the sector, because the internet bank, that was launched in 1998 by Prudential, was one of the first in this sector – reports Világgazdaság Online, after Financial Times.