March 28, 2017 / 9:52 AM / 5 months ago

Barclays in talks to sell Zimbabwe bank to Malawi's First Merchant Bank

LONDON, March 28 (Reuters) - Barclays is in exclusive talks to sell its stake in Barclays Bank of Zimbabwe to Malawi's First Merchant Bank, First Merchant Bank said in a statement on its website on Tuesday.

A spokeswoman for Barclays confirmed the bank is in early discussions with a prospective buyer for its 68 percent stake in the Zimbabwe bank.

Neither party disclosed a value for the prospective deal. Barclays Bank of Zimbabwe has a market capitalisation of $60 million, according to Thomson Reuters data. (Reporting By Lawrence White)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below