23rd May 2018 07:00
LONDON (Alliance News) - Barclays PLC has been "quietly" seeking opportunities to combine with rivals, including Standard Chartered PLC, the Financial Times said on Wednesday.
The newspaper, citing "people close to the situation", said directors of each of the banks were already in "private" talks, but no formal or informal approach has been made.
The Financial Times noted that the decision is part of the company's wide-ranging contingency plans, initiated after Sherborne Investors Management took a 5.16% stake in the FTSE 100-listed lender in March, which it then upped to 5.41%.
Both parties declined to comment, the Financial Times said.
https://www.ft.com/content/7b3c789a-5e0b-11e8-9334-2218e7146b04?segmentId=080b04f5-af92-ae6f-0513-095d44fb3577
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