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Co-op Bank says takeover talks have ended

Dec 21 (Reuters) - Talks between the Co-Op Bank’s majority shareholders and a potential buyer of the British lender have now ended, the company said on Monday without disclosing any reason for the discussions falling through.

Last month the Co-op Bank said it had received a non-binding offer from a “financial sponsor with knowledge and experience of investing in European financial services businesses”. Sky News reported at the time that U.S. investment firm Cerberus was the suitor.

The Co-op Bank said in a statement that it remained committed to delivering its strategy and to returning to sustainable profitability.

The lender, which has been trying to recover after a near-collapse and rescue by a group of U.S. hedge funds in 2017, has been loss-making over the first three quarters of this year. (Reporting by Muvija M in Bengaluru, Editing by Iain Withers)

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