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Sainsbury’s ends talks on selling banking operation – Metro US

Sainsbury’s ends talks on selling banking operation

FILE PHOTO: A person walks past a Sainsbury’s store in
FILE PHOTO: A person walks past a Sainsbury’s store in Milton Keynes

LONDON (Reuters) – British supermarket Sainsbury’s said on Friday it had ended talks about selling its banking operation after concluding that approaches it first received in November 2020 did not offer good value for shareholders.

“Whilst 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,” it said.

(Reporting by Paul Sandle; editing by James Davey)

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