Barclays Plots Selling a Stake in UK Merchant Payments Unit
- Unit could be worth as much as £3 billion, people familiar say
- Bank has been reviewing its strategy to boost share price
A sign at a Barclays Plc bank branch in London, UK.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Barclays Plc is considering the sale of a stake in its merchant-acquiring business in the UK as part of efforts to boost its lagging share price, according to people familiar with the matter.
The bank, led by C.S. Venkatakrishnan, has reached out to potential partners and worked internally on the plan, they said, asking not to be named as the details aren’t public. Selling a stake could value the whole unit at as much as £3 billion pounds ($3.8 billion), they said.