Financial Times FT.com

Barclays rises on iShares talks

By Adrian Cox and Peter Thal Larsen

Published: March 16 2009 20:31 | Last updated: March 16 2009 20:31

Barclays shares soared on Monday amid hopes that the bank could escape UK government intervention by selling off part of its asset management arm.

The bank on Monday confirmed it was in talks to sell iShares, the exchange-traded funds division, sending its shares 22.7 per cent higher and bringing the company’s market value to £7.6bn ($10.7bn). The shares had previously fallen 42 per cent this year.

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