Deloitte UK will have to give up plans to sell its British restructuring division as its global parent company put the veto on this decision, the Financial Times reported on Saturday.
Deloitte Global allegedly said a sale could negatively impact its global restructuring network as well as its tax and consulting teams who are utilizing its restructuring experts' advice to clients so, therefore, decided not to give its approval.
This multinational professional services network and the member of the Big Four accounting organizations held a call with senior members of its restructuring and insolvency unit just two weeks ago to discuss approaching potential buyers and it was said that any such deal could come with a price tag of several hundred million pounds.
