22nd Jul 2019 09:03
(Alliance News) - Metro Bank PLC confirmed on Monday that it has entered talks to dispose of its loan portfolio in response to "press speculation" over the weekend.
Sky News on Sunday reported that the bank was closing in on a GBP500.0 million deal to sell its mortgage portfolio to US hedge fund Cerebus Capital Management.
The bank said "there can be no certainty" about when an agreement for the sale will be reached.
The FTSE 250-listed bank agreed to buy a portfolio of UK mortgages for GBP523.0 million in February 2018.
Shares in the company rose 2.3% to 482.91 pence each in London on Monday morning.
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Metro Bank