BT chairman Sir Iain Vallance has turned down an offer to become chairman of the Royal Bank of Scotland, according to reports.
Vallance was asked by the Scottish bank to take over its chairmanship from Lord Younger, who retires in May, according to the 'Independent' newspaper.
But BT told the newspaper that Vallance has no intention of leaving the telecomms operator. Separately, the Royal Bank of Scotland said there is not currently a vacancy for the chairman position.
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