Chinese cash fuels Barclays bid

And they will invest a further 6.5 billion (about P80.7 billion) if the ABN takeover goes through. Barclays has said it will now pay 67.5 billion euros (about P562. 9 billion) in cash and shares for the Dutch bank. A group led by Royal Bank of Scotland (RBS) is also vying for ABN and its current offer is higher than Barclays' revised bid.

Barclays shares climbed two percent higher on Monday after details of the Asian tie-ups emerged. The BBC's Business Editor Robert Preston revealed on Sunday that the Asian deals were being negotiated. He said Barclays would be hoping that its new relationship with the CDB would yield it hundreds of millions of pounds in extra profits from doing new business in the Chinese economy.