ABN Amro and Barclays are not working together on a plan to sell the Dutch bank’s Banco Real operations in Brazil, Barclays CEO John Varley said on Monday. Varley was responding to a report in the Financieele Dagblad which said the Brazilian sale would be part of the takeover package.

‘Barclays has not engaged in or is pursuing discussions relating to major asset sales in connection with its recommended merger with ABN Amro,’ Varley told Reuters.
Barclays wants to take over ABN Amro in a €64bn deal, but a rival consortium, led by Royal Bank of Scotland is poised to make a higher counter bid.