LONDON (Reuters) - Barclays (BARC.L) is in exclusive talks to sell its stake in Barclays Bank of Zimbabwe (BARC.ZI) to Malawi’s First Merchant Bank FMB.MV, First Merchant Bank said in a statement on its website on Tuesday.
A spokeswoman for Barclays confirmed the bank is in early discussions with a prospective buyer for its 68 percent stake in the Zimbabwe bank.
Neither party disclosed a value for the prospective deal. Barclays Bank of Zimbabwe has a market capitalisation of $60 million, according to Thomson Reuters data.
Reporting By Lawrence White