Following news that the Confederation of British Industry (CBI) cancelled its annual general meeting last minute over funding issues, NatWest Group PLC (LSE:NWG) has looked to rejoin the lobby group.
Having left the group in the wake of a sexual misconduct scandal, NatWest’s return could come as the CBI discusses a rescue package with members, according to Sky News.
The lobby group, which was previously among the most influential in Britain, has struggled with financing since allegations of rape within the organisation earlier this year led many companies, such as Aviva PLC (LSE:AV.) and John Lewis Partnership, end their memberships.
As a result, the CBI cancelled Wednesday’s annual general meeting with the remaining members last minute.
“As has been reported, the CBI has experienced some short-term cashflow challenges,” a spokesperson said on Tuesday.
“To reassure members, we are in positive dialogue over finalising financing options and are confident that we will be able to resolve this short-term issue.
“But, given the significant interest in the CBI right now, we are opening up and refocusing our previously planned AGM.”
According to Sky News sources, NatWest’s interest in rejoining the group has been sparked by reports Chancellor Jeremy Hunt would re-engage with the lobby group after several months.