At least five bidders have gone through to a second round in the auction of Royal Bank of Scotland Group PLC's global merchant services division, currently valued at up to 2.5 billion pounds ($3.8 billion), people familiar with the matter said Friday.

TPG Inc.; Permira; CVC Capital Partners Ltd.; Canada's largest payments processor, Moneris Solutions; and Advent International Corp., bidding jointly with Bain Capital LLC, remain in the process.

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