UPDATE 1-Britain's Metro Bank in talks to buy peer-to-peer lender RateSetter - Sky News

(Adds RateSetter response)

June 14 (Reuters) - 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 said https://bit.ly/2MTMP2C.

A Metro Bank spokesperson said the company would not comment
on rumour or speculation, while RateSetter said it had no
comment on the report.

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.
(Reporting by Bhargav Acharya and Anurag Maan in Bengaluru;
Editing by Diane Craft)