Failure of talks shows bank consolidation at bottom end of industry never seems to achieve momentum
That didn’t last long. Two weeks ago, Metro Bank said it was in discussions about a takeover approach from private equity giant Carlyle. Now, the talks are “terminated” for reasons neither side is prepared to state.
As it headed to the exit, Carlyle didn’t even offer a few polite words of encouragement for the Metro management crew trying to revitalise a lender whose go-go expansion plans were blown apart by a misreporting scandal in 2019. Metro’s shares fell 19%, returning to where they had stood at the start of the month.
