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Metro Bank founder Vernon Hill seeks support to take lender private

Metro Bank founder Vernon Hill seeks support to take lender private

Metro Bank founder Vernon Hill is seeking support to take the embattled lender private.

The American billionaire is understood to have told potential backers in the last few days that he would consider buying his business off the stock market at its current depressed share price.

Mr Hill, who this week announced he will stand down as Metro’s chairman within weeks following a plunge in the value of its stock, is understood to have called City figures in a bid to secure backing for the move.

A source said: “Now is the time for a predator to pick this up.

“My sense is that this is all very recent and so people will need some time.” 

Mr Hill owns 3.5pc of the business, meaning he would potentially…

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