According to Reuters, the Sunday Telegraph reported that Barclays was ready to sell FirstPlus for less than GBP4.5 billion, compared to the estimated GBP4.9 billion price tag for the unit that was expected earlier in the year.
Having sold the majority of its sub-prime credit card unit Monument to credit card issuer CompuCredit, the bank is delaying a final decision on the sale of its sub-prime consumer loan business until later this month, the Sunday paper said, as cited by Reuters.
US-based General Electric and insurance group American International Group are both hoping to acquire FirstPlus, the Sunday Telegraph reportedly revealed. However, Barclays has declined to comment on the report.
