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J Sainsbury Ends Talks On Selling Bank Unit

J Sainsbury plc (JSAIY.PK,SBRY.L) said Friday it has ended talks on selling its banking services unit, Sainsbury's Bank, after concluding that approaches it first received in November 2020 did not offer better value for shareholders.

The U.K. retailer said that it continues to make progress strengthening and simplifying its Financial Services business in line with its strategy. The company remains comfortable with consensus profit forecasts for the division.

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