Santander CEO Flags Delays For UK, Argentina IPOs

Banco Santander SA (STD) has put listing plans for its U.K. unit on hold until at least next year and flagged that a similar plan for the Argentine unit will be delayed, Chief Executive Alfredo Saenz said Wednesday.

In a conference call, Saenz said Santander is sticking to the "idea" of listing its local units, but the plans are suffering delays due to tough market conditions and regulatory changes.

In the U.K., he said, the regulatory environment remains "very uncertain," and it is not yet clear what the impact of changes in legislation will be.

"We're also a bit behind schedule on the integration of the assets from Royal Bank of Scotland Group (RBS), and finally it's obvious that the market conditions aren't helping."

Saenz added there were some similar issues for Argentina, "There are elements of uncertainty in markets, and we need to decide in due time when the right moment (for a listing) is."

-By Christopher Bjork; Dow Jones Newswires; [phone]; [e-mail]