The Co-operative Bank and Sainsbury’s Bank have ended discussions about a potential £650m mortgage deal, Sky News reports.
The talks fell through as the two parties were unable to agree on a price for the portfolio owned by the supermarket giant.
A sale process for the portfolio, which was reported by Sky News last month, had been ongoing for some time.
Sky News said it is currently unclear whether Sainsbury’s Bank is in discussions with another party or if the sale process has been discontinued altogether.
The auction has been managed by advisers from Deloitte.
