Barclays completes £600m Tesco Bank takeover after high court approval

Barclays has finalised its £600m acquisition of Tesco's banking division, following high court approval on 17 October.

Under a decade-long partnership, Barclays will commence operations and management of Tesco Bank, as reported by City AM.

Tesco will retain all existing insurance and money services activities, including ATMs, travel money and gift cards, with the supermarket highlighting these as "capital-light, profitable businesses with a strong connection to the core retail offer".

Post-acquisition, Tesco announced it would return £700m to shareholders via an incremental share buyback, set to start after t