11/27/2023, 1:48 PM (Source: TeleTrader)
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Barclays may allegedly buy Metro Bank mortgage book for £3B

Barclays PLC is currently in discussions to acquire a mortgage portfolio from Metro Bank for £3 billion, Sky News reported on Monday.

According to the media outlet, the talks are part of a bigger financial restructuring plan, which could potentially save Merto Bank from collapsing.

In the upcoming hours, Metro Bank is expected to reveal that an overwhelming amount of its shareholders backed its £925m refinancing plan, with Colombian billionaire Jaime Gilinski Bacal taking the position of the majority stakeholder, Sky News added.

Baha Breaking News (BBN) / AY