South African tumult hinders Barclays' exit

摘要

BARCLAYS' plans to sell its African business and pull out of the continent are being hindered by South Africa's political upheaval and credit-rating downgrades, according to banking sources and fund managers. The British bank gave itself two to three years to sell its controlling stake in Johannesburg-based BARCLAYS AFRICA when it announced the plan in early 2016, and sold 12% last May in an "accelerated bookbuild" -a share sale held over a short period of time.