Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
SVB didn’t have a big branch presence in the UK.
It’s not a good look. Metro Bank is still solvent and is profitable at the moment. Of course if depends on a lot of things but it screams don’t invest in the UK. Especially not in the financial services.
Technically it’s the firm he works for but hey ho
https://news.sky.com/story/santander-uk-drafts-in-osborne-to-advise-on-metro-bank-offer-12980239
PRA has hired EY to gauge offers according to The Guardian (https://www.theguardian.com/business/2023/oct/08/bank-of-england-sounds-out-buyers-for-metro-bank-including-natwest)
According to Bloomberg everything’s still on the table, including the Bondholders deal and Asset sales. This may not end tomorrow. We might just get a plan on what the future looks like.
Guess tomorrow’s the day we fine out just how buggered the boars has left the staff, shareholders, bondholders, and new entrants to the sector. We need a you’re faeces at your job award for the board.
If they make it to the next AGM then they better be prepared to eat humble pie.
Since we are on the topic. Just because a potential acquirer didn’t proceed previously doesn’t mean they won’t now. In the past they were nowhere near being profitable, now they are. In the past the price might have been multiples higher, now it might be closer to the share price when they last looked. Not saying this is good for the shareholders and that most won’t lose money but equally it’s not all lost either.