Santander Central Hispano, Spain's largest bank, confirmed on Wednesday that it will seek a listing in London just hours after rival HBOS abandoned plans to mount a counter bid for Abbey National.

Abbey National has already agreed a £8.7bn (€12.8bn) offer from Santander. HBOS has now formally ruled itself out of bidding. UK takeover regulations bar HBOS from making an offer for six months.