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Barclays linked to CAM Bank acquisition

Tue 7th Jun 2011

At the beginning of last week Barclays plc were predicted to make an aquisition bid on one of Spain's cajas, only for MedioBanca analysts to effectively rule it out by the end of the week.

In a further twist industry insiders have reported that Barclays may now be considering a bid for Caja del Mediterraneo (CAM ), which is widely considered to be one of the weaker cajas.

The troubled Caja was due to merge with three other Banks to form Banco Base before the deal collapsed, but the other partners turned away from CAM over concerns of their bad property related debts.

Barclays are reported to be interested in the caja and has approached the Bank of Spain for a guarantee against bad debts.

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