(Reuters) - Royal Bank of Scotland Group Plc has proposed abandoning the planned sale of its Williams & Glyn unit after a seven-year struggle to sell the small business lender to meet European Union state aid demands.
The taxpayer-backed bank has proposed an alternative series of measures to help so-called challenger banks and boost competition among lenders.
If the plan is accepted it would end one of the bank’s biggest headaches after it was ordered to sell Williams & Glyn as a condition of its state-backed rescue at the height of the financial crisis.
Reporting by Ismail Shakil in Bengaluru and Andrew MacAskill in London, editing by David Evans
