BARCLAYS has given no indication that it intends selling its controlling 59 per cent stake in Absa, worth N$36,7 billion.
There has been speculation that the UK bank might need to sell assets to shore up capital. ‘At this stage there is nothing to suggest that there is anything of that nature on the cards,’ said local bank registrar Errol Kruger. A sale of the Absa stake was a ‘very remote’ scenario, Deutsche Bank analysts said on Friday. ‘Should Barclays become a forced seller of assets, we think Absa is likely to be near the top of the list … to be sold,’ they added. – Bloomberg
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