Barclays, a British multinational universal bank, agreed to acquire the retail banking business of Tesco Bank, a British retail bank, for £600m. “Tesco Bank is a strong business that has helped millions of loyal customers to manage their money for more than 25 years. As we look to the future, our aim is to be the best provider of financial services in the UK, with this strategic transaction and partnership with Barclays unlocking greater value for customers and for our business. By working with one of the UK’s leading banks, we can bring customers new and innovative propositions, which will continue to benefit from Tesco Clubcard’s unique insight and digital capabilities,” Ken Murphy, Tesco CEO.