03:26 PM EDT, 09/13/2024 (MT Newswires) -- Barclays ( JJCTF ) is struggling to divest a stake in its British merchant payments business because of disparate assessments on valuation, Reuters reported Friday, citing four people with knowledge of the matter.

Private equity firm Brookfield Asset Management ( BAM ) also quit the bidding over Barclays' ( JJCTF ) asking price, two people reportedly said.

Barclays ( JJCTF ) was seeking to initially value the business at over 2 billion British pounds ($2.5 billion) but the valuation fell to above 1 billion pounds by the time potential suitors received sale documents, according to the people.

The lender is still open to sell a stake in the payments arm, one of the people said.

Neither Barclays ( JJCTF ) nor Brookfield Asset Management ( BAM ) immediately responded to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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