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Article: Barclays buys Italian mortgage business
- Article from:
- AP Worldstream
- Article date:
- November 6, 2008
CopyrightCopyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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Britain's Barclays bank said Thursday it has bought the Italian residential mortgage business of Australia's Macquarie bank.
Barclays PLC, which raised 7.3 billion pounds ($11.8 billion) from Middle Eastern investors last month, is not disclosing the amount it paid Macquarie Group Limited for the business.
The purchase increases the value of Barclays mortgage book by 1.1 billion euros ($1.4 billion) _ or nearly 10 percent. ...