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Report: UK Treasury seeks external advice on Williams & Glyn

The U.K. Treasury intends to hire an independent investmentbank to help it assess alternatives to selling 'sEnglish and Welsh bank network Williams & Glyn, Sky News reported Sept. 28.

It added that the adviser could be Rothschild, though it wasnot clear if the government had already signed a formal contract with anycompany.

RBS has been trying to sell the business since 2010, havingbeen required to do so by the treasury and the European Commission in exchangefor a £45.5 billion rescue package. Failure to dispose of the unit by the endof 2017 could lead to a hefty fine for the lender.

RBS CEO Ross McEwan recently voiced concerns that the bankcould find itself in "uncharted territory" if it fails to sell Williams& Glyn by 2016-end.

McEwan said RBS was looking at alternative to divest the business afterBanco Santander SAwithdrew from talks to buy it due to disagreements over the price.

CYBGPlc was reportedly interested in making an offer for Williams & Glyn.