Barclays has announced that its Spanish subsidiary had made an £803 million offer to acquire rival Banco Zaragozano.
The deal, which is subject to approval from the Bank of Spain and the Spanish Securities Market Commission, is expected to be completed in July.
Along with its UK rivals, Barclays has been looking overseas for future expansion opportunities.
The bank, which employs about 80,000 people worldwide, has been particularly keen to deepen its retail and commercial banking presence in European markets.
Friday May 9 2003
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