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Published online Feb 8, 2010 banking Santander could spin off Sovereign Bank By Ted Nesi PBN Web Editor Banco Santander S.A., the Spanish banking giant that bought Sovereign Bank last year, is considering spinning off the U.S. bank in an initial public offering, according to a published report. More » This item is available in full to subscribers. Please log in to continue. To purchase a copy of this article for $2.00, click here.