UK's Metro Bank eyes $2.7 billion merger with Aldermore, Sky News reports

July 21 (Reuters) - Britain's Metro Bank is exploring a £2 billion ($2.7 billion) merger with rival lender Aldermore, which was put up for sale by South Africa's FirstRand following the motor finance mis-selling scandal, Sky News reported on Tuesday.

Here are some more details:

• Metro Bank is at the early stages of exploring a formal offer for Aldermore, according to the report, and is among a number of parties mulling an offer for the UK-based mortgage and business lender.

• Sky News had previously reported that Lloyds Banking Group and Shawbrook were also exploring a potential takeover of Aldermore.

• In April, FirstRand said it will exit Aldermore, after costly payouts tied to a UK motor finance mis-selling scandal forced it to hike provisions to £750 million.

• FirstRand acquired Aldermore in 2017 for £1.1 billion to diversify its revenue beyond its home continent and complement its British motor finance business, MotoNovo.

• Metro Bank declined to comment on the report. Aldermore and FirtRand did not immediately respond to requests for comment.

• Metro Bank shares were up 2% at 174.2 pence as of 1107 GMT.

($1 = £0.7448)

(Reporting by Neeshita Beura and Anushka Chourasia in Bengaluru; Editing by Devika Syamnath)