Financial newspaper Expansion and daily El Pais yesterday reported that, after 40 years, Barclays are looking to pull out of Spain.
Palma.—Barclays is apparently looking to sell off its crisis-hit Spanish subsidiary, national newspapers including Expansion and El País reported yesterday.
The bank with some 2,800 staff and 271 offices in Spain, including a number here in the Balearics including the centre of Palma, has contacted possible advisers including Goldman Sachs, Merrill Lynch and Morgan Stanley to get a feel for what the bank might fetch on the market, the dailies claim.
But, some executives feel that if the bid is not up to Barclay’s expectations, it will not sell.