Botswana sells US$157m in Anglo shares – dealers

LONDON – The Botswanan government sold part of its stake in global mining group Anglo American Plc in a deal worth about 87 million pounds yesterday, London dealers said.

The Botswanan government was not available for comment. Anglo American has long-standing ties with Botswana through diamond mining, which accounts for half of government revenue.Investment bank Merrill Lynch handled the sale, offloading 6,87 million Anglo shares for 1,270 pence apiece early yesterday.Merrill declined to identify the seller but London dealers said Botswana was believed to be behind the sale.By midday Anglo American shares were up 0,9 per cent at 1,299 pence, recovering from a dip to 1,268p.Anglo shares have risen eight per cent this year, after hitting a high of 1,430p this month on a strong rise in global metals prices.Merrill said the shares were sold to a range of investors, with the offering about twice covered in the indicated price range of 1,265-1,275p per share.-Nampa-ReutersAnglo American has long-standing ties with Botswana through diamond mining, which accounts for half of government revenue.Investment bank Merrill Lynch handled the sale, offloading 6,87 million Anglo shares for 1,270 pence apiece early yesterday.Merrill declined to identify the seller but London dealers said Botswana was believed to be behind the sale.By midday Anglo American shares were up 0,9 per cent at 1,299 pence, recovering from a dip to 1,268p.Anglo shares have risen eight per cent this year, after hitting a high of 1,430p this month on a strong rise in global metals prices.Merrill said the shares were sold to a range of investors, with the offering about twice covered in the indicated price range of 1,265-1,275p per share.-Nampa-Reuters