Britain's Metro Bank Plc is in advanced talks to buy RateSetter, one of UK's biggest peer-to-peer lenders, Sky News reported on Sunday.
FILE PHOTO: People walk past a Metro Bank in London, Britain, May 22, 2019. REUTERS/Hannah McKay
- Britain’s Metro Bank Plc is in advanced talks to buy RateSetter, one of UK’s biggest peer-to-peer lenders, Sky News reported on Sunday. The price Metro Bank would pay for RateSetter is unclear and there is no guarantee that the talks between the two firms would lead to a transaction, Sky News saidA Metro Bank spokesperson said the company would not comment on rumour or speculation. RateSetter did not immediately respond to Reuters’ request for comment.
Sky News reported in March that RateSetter was working with bankers on a potential sale or a merger amid a funding squeeze exacerbated by the COVID-19 pandemic. RateSetter was launched in the UK in 2010. Peer-to-peer platforms bring together individual borrowers and lenders without a bank being involved.
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