(Bloomberg) -- Walgreens Boots Alliance Inc. is abandoning the sale of the Boots drugstore chain in the UK citing “unexpected and dramatic change” in the global financial markets since launching the sales process in January. 

The American healthcare group had been in talks with a consortium between Reliance Industries Ltd. and Apollo Global Management Inc. over the £5.5 billion ($6.73 billion) sale of Britain’s biggest pharmacy chain. 

Walgreens said as a result of “market instability severely impacting financing availability, no third party has been able to make an offer that adequately reflects the high potential value of Boots,” in a statement Tuesday. 

 

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