Qatar-based Al Faisal Holding Co. and Switzerland-based Interritus Ltd. are in talks about a potential takeover bid for Co-operative Bank Plc, Sky News reported June 8.
Sources told Sky News that the status of the negotiations was unclear as of June 8 and that the potential bidders would face hurdles. The main objection to the plan is expected to come from the bank's hedge-fund majority owners who themselves want to inject fresh capital into the beleaguered lender.
The Qatari and Swiss investment groups were attracted to Co-op Bank's ethical credentials, according to the report.
Co-op Bank has yet to find a buyer since it put itself up for sale in February. The bank held off announcing that it was no longer seeking a buyer due to the ongoing talks with the Qatari and Swiss investment groups, sources told Sky News.