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Bob the bidder

Barclays Africa sale starts clock on Diamond bid

Dominic Elliott 

Dominic Elliott Bob Diamond may yet snap up Barclays' Africa arm. The UK bank has placed 12.2 per cent of its Johannesburg-listed business with institutional investors. A South African state pension fund took a tenth of the offering, which was worth $878 million, and will now own almost seven per cent of Barclays Africa Group. But that's not enough to deter the former Barclays boss from sniffing around. The initial sell-down of Barclays' stake looks like a decent enough piece of business by current boss Jes Staley. The sale was achieved at a 6.5 per cent discount to the previous day's ...

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First Published: Thu, May 05 2016. 21:31 IST