Barclays to sell IPRS unit as part of investment bank overhaul

- Index business could fetch 400m dollars- CME and MSCI have both made bidsShares in Barclays were given a lift by stories that the bank is weighing up the possible disposal of its Index, Portfolio and Risk Solutions (IPRS) unit, with two rival buyers mooted.Selling this unit of its investment banking arm, which provides benchmark and investable indices, portfolio analytics, risk models and portfolio construction tools, could reap $400m for Barclays.CME Group, a Nasdaq-listed derivatives and futures exchange provider, has approached Barclays about buying the unit last year and is expected to make an offer, according to Bloomberg.It has also been reported that index publisher MSCI has also expressed interest in the past, with Reuters having reported an approach in November.Barclays announced plans to shake up its investment bank earlier this month to fend off investor criticism about the bank's proposed bonuses after a year when pre-tax profits tumbled by a third.The overhaul is expected to see thousands of job cuts and capital shifted away from the division to more profitable areas, such as UK mortgage lending.Shares in BARC were up 2.3% to 241.45p at 12:45 on Monday, having slid from 296p in mid January. OH