Barclays Bank lifted as approaches received for Global Investors Division
Barclays Bank has today revealed further bid approaches for its Barclays Global Investors fund management arm and additional interest in the iShares index tracking operation. Despite the fact that CVC Capital had already agreed a £2.9 billion price tag for the iShares division it appears as though there may be further competition for the operation.
Many people had assumed that the CVC Capital deal for the iShares division was already done and dusted but apparently CVC Capital has already agreed, or indicated, that it is prepared to match any higher offer for the operation. The company is also said to be interested in the Barclays Global Investors division although it looks as competition is intensifying for this particular operation. All in all this increased interest in the various Barclays Bank divisions which are up for sale has helped the share price which rose 6% despite the fall in the general market today.
Only a few weeks ago Barclays Bank had been written off by a number of investors yet the company appears at this moment in time to be one of the most sought after operations in the UK banking sector. With potentially $10 billion up for grabs if the two divisions are eventually sold, the company would appear to have little difficulty in increasing its capital adequacy.
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