In August 2016, RBS cancelled its plan to spin off Williams & Glyn as a separate business, stating that the new bank could not survive independently given the exigencies involved in Brexit. It revealed it would instead seek to sell the operation to another bank. Reuters reported that Santander UK was interested in buying the unit outright. Santander had abandoned talks in September 2016. CYBG plc, owner of Clydesdale Bank and Yorkshire Bank, confirmed in October 2016 that it had made what it described as a "preliminary non-binding proposal" for the unit. In the same month RBS confirmed that it would be unable to sell Williams & Glyn by the end of 2017, potentially giving the European Commission the right to take control of the sales process.
