Sainsbury’s ends talks on sale of banking operation
Sainsbury’s has called off the potential sale of its banking operation after concluding that talks with suitors had failed to result in an offer that would be good value for shareholders.
Britain’s second biggest supermarket chain, which started a potential sale process after receiving expressions of interest last November, said it had formally ended talks with all interested parties.
“While the board of Sainsbury’s believe that it was in the best interests of shareholders to explore these expressions of interest, it has concluded that these do not offer better value for shareholders than will be realised through retaining Sainsbury’s Bank,” the company said. “Accordingly, all such discussions have now ended.”
The potential sale of the banking
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