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Sainsbury's ends talks on selling banking operation

Sainsbury's weathers supply chain stress with 23% profit rise
Sainsbury's weathers supply chain stress with 23% profit rise Copyright Thomson Reuters 2021
Copyright Thomson Reuters 2021
By Reuters
Published on Updated
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LONDON - 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.

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