[arista]

[Tesco has announced the sale of most
of its banking arm to Barclays in
a deal worth up to £1bn.
The UK's largest retailer,
which had been in discussions with
other major lenders including
HSBC and Lloyds over a deal,
said all 2,800 staff at Tesco Bank
would transfer to Barclays under
the agreement over time.
The sale only includes its
banking operations in credit cards,
loans and savings.

Tesco Bank's wider financial services
interests, including insurance,
gift cards and cash machines,
will remain with Tesco.]

[The company told the bank's five million
customers they did not need to take
any action and that they would be
contacted in due course.]


https://news.sky.com/story/tesco-ban...-700m-13067201