Metro Bank Faces Early Takeover Talks With Pollen Street

Metro Bank has received a takeover approach from private equity group Pollen Street Capital, a major shareholder in Shawbrook Bank, but discussions remain at an early stage with no formal bid yet made. News of the approach has boosted Metro Bank's shares by over 10%. Metro Bank, the first new high street bank to launch in the UK in over a century, has faced challenges including a 2019 accounting scandal, regulatory fines, and a near-collapse that led to a £925 million rescue deal in 2023. Colombian billionaire Jaime Gilinski Bacal gained a controlling stake after the bailout. While Metro Bank's share price has more than trebled in the past year, it is still far below its peak valuation. If the deal proceeds, it could result in Metro Bank being delisted from the London Stock Exchange, amid wider concerns about companies exiting the market.