Corporate News
A Barclays bank branch in London. Earlier this year, Barclays Plc said
it would sell down its 62 per cent stake in Barclays Africa Group to
focus on other divisions. PHOTO | REUTERS
By REUTERS
Atlas Mara, the African investment vehicle of former
Barclays boss Bob Diamond, said on Tuesday it had held discussions with
investors with a view to making a bid for Barclays African business
Atlas said its board supported exploration of a possible
acquisition, "given the expected positive impact on accelerating the
company's strategy to build sub-Saharan Africa's premier financial
institution," it said in a statement, in response to media speculation
about its interest in the business.
Atlas said that there was no certainty that a
transaction would be completed but if its discussions with fellow
investors resulted in more substantive negotiations with Barclays,
Diamond and co-founder Ashish J. Thakkar will recuse themselves from
such discussions.
Earlier this year, Barclays said it would sell down its 62 per cent stake in Barclays Africa Group to focus on other divisions.
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