Morgan Stanley and Goldman Sachs have failed to find a buyer to take on the loss-making French arm of Egg as part of the auction of the online banking business. Egg France has been closed at a cost of €170m ($133m) and the loss of 450 jobs.

Prudential, the UK insurer who hired Morgan Stanley to sell its 79% stake in Egg, said talks with potential buyers were continuing. A spokesperson said it was "a healthy sales process".