Carlyle ‘pulls out of talks’ to buy Metro Bank

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Carlyle ‘pulls out of talks’ to buy Metro Bank

By Alexandra Leonards

19/11/2021

Private equity firm Carlyle has reportedly backed out of talks with Metro Bank over a proposed takeover.

According the Financial Times, the New-York based company first approached the bank about a possible buyout earlier this month.

The report said that on Thursday the takeover group had “agreed to terminate discussions.”

In response, the bank told the newspaper that its board continues to “strongly believe in the standalone strategy.”

Earlier this year the UK challenger bank announced a new partnership with Backbase as part of its digital transformation plans.

Metro using the company’s tech to provide digital innovation support for its business banking customers.

Backbase and Metro Bank have already been in partnership for five years.

Last year the bank launched a new online journey for its small to medium-sized enterprise (SME) business account customers.

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