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Barclays set to clear Absa hurdle
Independent, The (London), Apr 4, 2005
THE SOUTH African government is expected to approve this week a bid by Barclays to buy a majority stake in the country's top retail lender, Absa. Sources familiar with the negotiations said they expected the finance minister, Trevor Manuel, to clear the pounds 4.3bn deal but with conditions which could include requiring Barclays to pay cash, ensuring an inflow of foreign direct investment.
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They could also have provisions for the retention of jobs and the continuity of Absa's black economic empowerment arrangements.
Copyright 2005 Independent Newspapers UK Limited
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