Barclays chair doesn't see Sumitomo stake sale leading to others

Mon Jun 10, 2013 11:12am EDT
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MONTREAL (Reuters) - The sale by Japan's Sumitomo Mitsui Banking Corp (8316.T: Quote) of about half its stake in UK lender Barclays Plc (BARC.L: Quote) does not mean other major shareholders are likely to follow suit, Barclays Chairman David Walker said on Monday.

"My understanding is that for a long time Sumitomo have indicated that it was their intention at the right time to reduce their holding, and they've now done so; but I don't think it has implications for any other investors," he told reporters at a conference in Montreal.

(Reporting by Randall Palmer; Writing by Jeffrey Hodgson and Alastair Sharp; Editing by Gerald E. McCormick)

A woman uses a cash point at a Barclays Bank in Leicester, central England April 24, 2013. REUTERS/Darren Staples