Barclays Ends Talks With Providian!

Discussion in 'Credit Talk' started by Ron, Feb 20, 2004.

  1. Ron

    Ron Well-Known Member

    BARCLAYS REPORTEDLY ENDS TALKS WITH PROVIDIAN


    The London Financial Times Web site, FT.com, is reporting today that talks between Barclays PLC, the United Kingdom's largest credit card issuer, and Providian Financial Corp. have broken off. Barclays, issuer of the Barclaycard, had been holding discussions to buy Providian, which is based in San Francisco (CardLine 2/9). FT.com, quoting unnamed sources, said the negotiations broke off over Providian's $4 billion asking price. Spokespersons for Barclays and Providian had refused to acknowledge that two institutions were talking, and they maintained that same posture today, refusing to say whether the discussions have ended. "We don't comment on rumors and speculation," a Providian spokesperson tells CardLine. "We didn't do it then. We're not doing it now."


    Ron.
     

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