The municipality of Helsinki and the advertising firm JCDeceaux failed to reach agreement over the advertising possibilities available to the company under the terms of the scheme.
Talks had been ongoing for a period of years, in an effort to offer a new transport option without significant cost to taxpayers. It would have brought 500 bicycles and 52 bicycle stations to Helsinki.
Deputy mayor Pekka Sauri wrote on Twitter that the city council would ask for new tenders for the project. There have been two previous calls for bids since the last set of bikes were removed from Helsinki streets seven years ago.
