Barclays linked to bid for Cazenove

Banking giant Barclays was today being linked to a possible bid for Cazenove, the UK’s oldest independent stockbroker.

The speculation comes a month after Cazenove – whose clients include the Queen - announced it had resurrected plans for a stock market listing.

Cazenove added at the time that it had also received takeover approaches, although it did not disclose the identities of those interested.

Today’s Financial Times put Barclays in the frame and said the idea had the “wide support” of directors at Barclays Capital, the investment banking arm.

No price has been put on a deal.

A firm indication on price is likely to come next month when Cazenove publishes its results for the last year.

The 181-year-old institution advises nearly half of FTSE 100 companies and employs some 1,000 staff across nine countries. Barclays declined to comment on the report today.