Barclays sells Italian branches to Mediobanca's retail arm

December 3, 2015 6:45 AM

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MILAN Dec 3 Barclays has agreed a deal to sell its Italian bank branches to CheBanca!, the seven-year-old retail arm of Mediobanca, it said on Thursday confirming a Reuters report.

Mediobanca said in a statement that under the deal CheBanca! would acquire 89 branches from Barclays with 220,000 clients, residential mortgage loans worth 2.9 billion euros and 620 staff.

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