Barclays in talks over fund management sale

British bank Barclays today confirmed talks to sell part of its fund management business as part of a reported plan to raise £5bn (€5.4bn).

The bank added that it was in discussion with the Treasury over whether to participate in the Government’s scheme to insure “toxic” assets.

Barclays said it had approached “a number of potentially interested parties” about its iShares business, which is part of its Barclays Global Investors (BGI) division.