Rescue deal sees Colombian billionaire become biggest shareholder in Britain’s Metro Bank

Bosses of the ailing British firm Metro Bank managed to agree a deal with shareholders on Sunday after crunch weekend meetings which saw a Colombian billionaire seize a controlling stake.

The high street lender said the new plan will see investors put in an extra £150 million, in return for taking over a majority of its shares. Investors who hold Metro’s bonds will also be lending it a further £175 million as part of the ...