Barclays, the UK’s second largest banking
group, will sponsor a government-backed cycle hire scheme in
the capital, in a deal worth up to £25m ($30.5m).
The project, called “Barclays Cycle Hire”,
will involve the installation of 6,000 bikes at about 400 docking
stations across London from 30 July.
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The deal will give Barclays naming rights for
two cycling schemes and branding across the scheme’s bicycles,
staff uniforms and all marketing materials.
Deanna Oppenheimer, chief executive of the
bank’s UK retail division said the bank was “really excited” with
the agreement.
“It will take our brand around London, one
of the most famous cities in the world and the home of our global
headquarters, in an eye-catching and innovative way,” she
said.
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