Australian pharmacy giant Sigma has walked away from talks over a £7.5bn private takeover of Boots, renewing hopes of a London float.

The prospect of a monster equity raising – which would have been necessary to fund such a purchase – also had shareholders calling time.

Boots has been under mutliple ownerships including by Walgreen but the next owner will not be Australia's Sigma after it pulled out of talks.

Sigma Healthcare shares jumped 8 per cent after the company said it had abandoned its pursuit of the UK retailer to refocus on the Australian market.

Australian pharmacy giant Sigma has walked away from talks over a £7.5bn private takeover of Boots, renewing hopes of a London float.

Sigma Healthcare says deal for UK retailer would not meet its strategic objectives

Boots is moving closer to a London float after Australian pharmacy Sigma pulled out of talks, but billionaire Weston family are still in the running.