In December, Barclays said it was exploring options for the merchant payments business and had written down its value by £300 million. However, the process has been a struggle, says Reuters, citing several sources. Brookfield Asset Management is one private equity firms to pull out of a potential deal, mainly over the price. A potential deal has also been complicated by the takeover of Barclays partner Takepayments by Global Payments, which could reduce revenues, according to Reuters’ sources. In June, CEO CS Venkatakrishnan said any deal was complicated by the technology and financial arrangements involved. Barclays is also looking for a buyer amid a wider sell off in the European payments sector, with the likes of Adyen, Nexi and Worldline all facing concerns over revenue outlooks. A bank spokesperson says: "As we confirmed at our February investor update, we are exploring a number of options for investment in our market-leading merchant acquiring business, including strategic partnerships."