Barclays hires Lazard to sell Italian retail business
Barclays has hired Lazard to sell its retail banking business in Italy, a source with knowledge of the matter told Reuters.
“Talks have started over the sale of the 90 branches and Lazard has been hired. Retail and corporate assets in Italy, Portugal, Spain and France were in there and stuff in Spain has already gone,” the source said.
In May last year Barclays created a vehicle to group together risk-weighted assets worth around £115bn (€162.5bn) which the bank plans to exit.
Last year Barclays sold its Spanish banking business to Caixabank in a deal worth around £800m (€1.1bn).