LONDON (Alliance News) - Barclays Africa Group Ltd will not break up and sell off its assets, The Wall Street Journal reported on Wednesday, citing the company's chief executive, Maria Ramos.
The report comes after Barclays PLC, which owns about 62% of Barclays Africa Group, said last week that it plans to sell down its stake in the business. Some analysts have said that it would be easier to sell the group if it was broken down into its component parts, the report said.
"We have no intention or interest in divesting our [non-South African] Africa operations. We have a fantastic business across Africa," Ramos said in an interview with The Wall Street Journal.
Shares in Barclays were down 2.4% at 167.80 pence on Wednesday afternoon.
http://www.wsj.com/articles/barclays-africa-group-wont-break-upand-sell-individual-assets-1457527702
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Barclays (BARC)