Barclays, the U.K. bank fined a record amount for rigging
global interest rates, is languishing at a cheaper valuation than 93 percent of
its global competitors, fueling a debate about breaking up Britain’s
second-biggest lender, the good folks at Bloomberg tell us.
The shares trade at a 59 percent discount to book value,
implying investors don’t agree that the bank’s holdings are worth as much as
the London-based company says. That’s a lower price-to-book ratio than 141
financial firms listed in the 152- company Bloomberg World Banks Index,
according to data compiled by Bloomberg. While Liberum Capital Ltd. says one
hurdle to a breakup may be the investment bank’s ability to fund itself,
Canaccord Financial Inc. says splitting up Barclays may almost double its
market value of 22 billion pounds ($35 billion)…..
Wait...wait...there's more at http://www.bloomberg.com/news/2012-08-13/barclays-cheaper-than-peers-fuels-breakup-talk-real-m-a.html
No comments:
Post a Comment