Deals
Barclays Would Consider Full Africa Unit Sale, Staley Says
- Firm has seen strong interest in that business, CEO says
- Staley doesn't think Bob Diamond has ability to buy whole unit
Barclays Africa Sale Decision Not Easy, CEO Staley Says
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Barclays Plc would consider an offer for its entire 62 percent stake in the African banking unit that it’s selling down to boost capital, Chief Executive Officer Jes Staley said.
The firm is already receiving “a lot of interest” in the business a week after announcing its intention to cut its stake, Staley said in a Bloomberg Television interview with Erik Schatzker, without naming any potential bidders. The decision to sell down the firm’s stake in Barclays Africa Group Ltd. and focus on the U.K. and U.S. markets was part of a broader strategy update Staley presented to investors on March 1.