Barclays Bank recently announced they were considering a sale of shares to avoid a rights issue and this has led to interest from Temasek Holdings in Singapore and QIA, the Qatar Investment Authority.
The bank is looking to raise over GBP4 billion to fund the different areas of business, such as Barclays Insurance, as well as the high street banking operation. The QIA, which holds a stake of over 15 percent in the London Stock Exchange, expressed an interest in European banks as early as January this year, so they are seen to be a very interested party already.
Temasek Holdings also have a 2 percent stake in Barclays Bank already and will be very interested to see how the numbers add up for this latest opportunity. There has been talk of valuations needing to be reassessed although nothing firm has come from this to date. Perhaps as buyers get nearer to committing Barclays will need to ensure everything is in place to make the sales process a smooth one.