12th Aug 2020 16:40
(Alliance News) - Automaker General Motors Co's credit card subsidiary has Goldman Sachs Group Inc and Barclays PLC among its suitors, the Wall Street Journal reported on Wednesday.
Citing sources familiar with the matter, the WSJ said Goldman is aiming to boost its exposure to consumer banking.
The newspaper added that GM's credit card unit has about USD3 billion in outstanding balances.
FTSE 100-listed Barclays is also in the running to purchase the unit.
https://www.wsj.com/articles/goldman-sachs-vies-for-gms-credit-card-betting-youll-buy-coffee-with-your-car-11597240913
In New York, Goldman shares were 0.3% higher at USD211.71 each, while GM's stock was down 1.2% at USD28.18. Shortly before market close in London, Barclays was 0.1% lower at 111.65 pence a share.
By Eric Cunha; [email protected]
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