Barclays is considering a move for one of Spain’s ailing regional banks in a multi-billion pound rescue deal.

Chief executive Bob Diamond held talks with the Spanish prime minister in Madrid last week. 

 

They discussed the possibility of state guarantees to protect Barclays from losses on historic loans in the event of any deal.

The talks were not about a particular bank, or caja, but could enable Barclays to identify potential opportunities.

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