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Barclays gets approval to sell down Barclays Africa stake
May 31, 2017 / 1:38 PM / 4 months ago

Barclays gets approval to sell down Barclays Africa stake

A Barclays bank building is seen at Canary Wharf in London, Britain May 17, 2017. REUTERS/Stefan Wermuth - RTX366NF

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

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