Banks split over Wharf sale
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Banks split over Wharf sale
Canary Wharf's 11 bank owners are split over whether to sell up now or wait, with the North American banks wanting to "get out sooner rather than later", according to City sources. The banks, which bought the London Docklands development after it failed three years ago, rejected four bids when they met yesterday.
Lloyds, which leads the group, said: "We are in no hurry." But Citibank, CIBC and Royal Bank of Canada are understood to be keen to sell. The banks are worried that a future Labour government might interfere with hundreds of millions accumulated in tax credits. The Reichmann brothers - the original developers of Canary Wharf - are advising a group led by the Pritzer family of Chicago on one of the rejected bids.
Comment, page 21
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments