what are the tactics?

should i sell now via the abbey share dealing service at a 25 charge and get ,say,629p per share but not the 31p dividend due to those holding abbey shares on 12th nov. which is the last dealing date

OR do i continue to hold the shares PLUS pickup the 31p per share dividend of 12.11.2004 and then sell the santander shares via the free share dealing service which santanders registrars will operate for 6 months after 12.11.2004. IF I TAKE THE LATTER STEP WILL I HAVE TO COMPLETE A SPANISH TAX RETURN BEFORE I GET MY MONEY

ASSUME NO UPWARD OR DOWNWARD MOVEMENT IN SHARE PRICES AND THAT I CAN BEAR ANY RISK

The current Santander share price translated into Sterling is available at http://www.aboutabbey.com/home/group_info/group_info-takeover-legal-bid/group_info-takeover-home.htm. Add 31p to that and you will see that there is only a 6-7p discount for selling now, and it's a lot easier too. The main factors driving the price upwards at the moment are the Dow/FTSE and elation at the deal being complete. I'll be selling in a couple of days depending on the market.