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Sainsbury’s ends talks on selling banking operation By Reuters



© Reuters. FILE PHOTO: An individual walks previous a Sainsbury’s retailer in Milton Keynes, Britain November 5, 2020. REUTERS/Andrew Boyers/File Picture

LONDON (Reuters) – British grocery store Sainsbury’s stated on Friday it had ended talks about promoting its banking operation after concluding that approaches it first acquired in November 2020 didn’t provide good worth for shareholders.

“While the Board of Sainsbury’s consider that it was in the most effective pursuits of shareholders to discover these expressions of curiosity, it has concluded that these don’t provide higher worth for shareholders than will probably be realised by means of retaining Sainsbury’s Financial institution,” it stated.

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