June 10, 2013 / 3:13 PM / 6 years ago

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

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

MONTREAL (Reuters) - The sale by Japan’s Sumitomo Mitsui Banking Corp (8316.T) of about half its stake in UK lender Barclays Plc (BARC.L) 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

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