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Sumitomo Mitsui may take stake in Barclays

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Sumitomo Mitsui may take stake in Barclays

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Barclays is reportedly looking East for fresh capital and repair its battered balance sheet. Japan’s Sumitomo Mitsui is said to be in talks about investing nearly 600 million euros. Earlier this week the British bank said it was looking to raise up to 8.8 billion euros by issuing new shares to new and existing shareholders. Barclays has suffered over two billion euros worth of writedowns.