Finance News

Barclays reportedly planning to sell FirstPlus

UK-based financial services provider Barclays may sell FirstPlus, its sub-prime consumer loan business.

The Sunday Telegraph reported that Barclays was ready to sell FirstPlus for less than GBP4.5 billion, compared to the estimated GBP4.9 billion price tag for the unit that was expected earlier in the year.

Having sold the majority of its sub-prime credit card unit Monument to credit card issuer CompuCredit, the bank is delaying a final decision on the sale of its sub-prime consumer loan business until later this month, the Sunday paper said, as cited by Reuters.

US-based General Electric and insurance group American International Group are both hoping to acquire FirstPlus. However, Barclays has declined to comment on this message.

Source: Sunday Telegraph
Date: 25.09.2007 [ID: 100]

Get your content published on in just a few clicks.

Crypto Bank

💰 Deposit USDT, USDC or DAI and earn up to 36% APY on your crypto!