Barclays to acquire CAM

 

Barclays PLC in the UK is looking at acquiring a number of Spanish cajas, in a move to strengthen its position in the country's banking industry.

The Sunday Telegraph reported the news this morning without citing their source.

Barclays are thought to be just one of eight domestic and international banks to have made a first-round bid for the troubled Caja de Ahorros del Mediterraneo - also known as the CAM bank. CAM have €71 Billion in assets and the Bank of Spain have also incentivised the sale of the caja to would-be buyers after nationalising them earlier this year.