Barclays shares dip on U.S. bank buy reports

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10 March 2010 @ 08:15 am BST

LONDON - Shares in Barclays Plc dipped 2 percent on Wednesday after reports the British lender is looking to buy a retail bank in the United States to build on its successful investment bank build-up there.

Barclays has designated an internal team to assess possible targets and is looking for a franchise with a strong branch network and deposit base, the Wall Street Journal said. The bank is not in talks with any U.S. banks and no deals are imminent, it said, citing people close to the matter.

By 8:03 a.m. British time the shares were down 1.8 percent at 339.5 pence, after touching 338.65p.

Barclays declined to comment.

The bank has successfully integrated the U.S. operations of investment bank Lehman Brothers after buying them in 2008. It has been building its retail banking business in western Europe with small acquisitions adding to organic growth.

(Reporting by Steve Slater; Editing by Hans Peters)

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