Bloomberg News

Barclays Chief Mulls Offer for Spain’s Caja de Ahorros, FT Says

October 15, 2011

Oct. 15 (Bloomberg) -- Bob Diamond, Chief Executive Officer of Barclays Plc, made a non-binding preliminary offer for Caja de Ahorros del Mediterraneo earlier this month, according to the Financial Times.

The deal would make Barclays one of the top seven lenders in Spain, the newspaper said, citing people close the company. If the bank does not pursue the deal, Barclays may exit Spain within 18 months, the FT reported.

--Editor: Kim McLaughlin

To contact the reporter on this story: Kari Lundgren in London at klundgren2@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net


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