Abbey National has effectively put up the "for sale" sign after admitting it has received a takeover approach that is expected to flush out other bidders for the high street bank. As Spain's Banco Santander Central Hispano admitted it was convening its board to consider a bid for Abbey, rumours circled that US financial firms Citigroup and Bank of America had also made approaches. Other possible contenders are thought to include General Electric, the US conglomerate with a financial services arm, and National Australia Bank. The trustees of Abbey National's pension fund, however, are expected to support the Spanish bid.
