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The Treasury has halted the bidding war to secure the sale of its stake in NatWest.
The government, which owns about 30 percent of the lender after it was bailed out during the financial crisis, is looking for a private investment firm to manage the sell-off of its shares.
But officials quietly suspended the search for a partner last month.
Pause: The government is looking for a private investment firm to manage the sell-off of its shares, but officials quietly suspended the search for a partner last month
“This decision reflects our emerging views on the type of design and infrastructure required to complete this complex transaction,” the Treasury Department wrote in a letter to bidders.
The government has since insisted that a sale “will not take place until this summer at the earliest.”