Barclays gets approval to sell down Barclays Africa stake

0
36
A Barclays bank building is seen at Canary Wharf in London

JOHANNESBURG (Reuters) – Barclays Plc <BARC.L> has secured approval from the South African finance minister to sell down its stake in its regional unit, Barclays Africa <BGAJ.J> to below 50 percent, Barclays Africa said on Wednesday.

Barclays said in early 2016 it would sell its 50 percent stake as part of a strategy to refocus on the United States and Britain.

(Reporting by Tiisetso Motsoeneng; Editing by Greg Mahlich)

tagreuters.com2017binary_LYNXMPED4U1AW-BASEIMAGE