MILAN, Dec 3 (Reuters) - Barclays has agreed a dealto sell its Italian bank branches to CheBanca!, theseven-year-old retail arm of Mediobanca, it said onThursday 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 620staff.
As part of the transaction, Barclays will pay CheBanca! 237million euros. The deal has a 20-basis point negative impact onMediobanca's capital which the bank said will be graduallyrecovered from earnings growth post-integration. (Reporting by Silvia Aloisi)
Barclays (BARC)
