Barclays is edging in the direction of a deal to offload its service provider acquiring arm in the UK that can detect it final as an investor in the industry.

Sky News has learnt that Barclays and Brookfield, the Canadian asset administration giant, are in detailed talks a few deal that might well perchance perhaps beget the British lender retaining a 20% stake in the division.

The discussions are ongoing, and a definitive settlement is no longer actually appropriate coming near.

Final month, Sky News revealed that Barclays had re-entered talks a few closely structured contend with Brookfield after months of on-off negotiations.

Barclays said in February that it used to be exploring a sale or partnership for the service provider acquiring division.

Unusually for one of these surely broad company deal, Brookfield is no longer anticipated to pay a consideration for a controlling stake in the unit, but as a substitute would detect it bearing the costs linked to rising the industry.

Estimates of the cost of Barclays’ service provider acquiring arm agree with varied wildly, ranging from decrease than $1bn to $2.5bn.

The talks advance with Barclays able of comparative power below its chief executive, CS Venkatakrishnan.

Its shares agree with soared by shut to 90% over the closing year as investors agree with digested development in the efficiency of its funding banking arm.

A Barclays spokesperson said: “As we confirmed at our February investor update, we’re exploring a chain of alternate strategies for funding in our market-main service provider acquiring industry, including strategic partnerships.

“We are able to provide any more updates in the shatter.”

Brookfield declined to comment.