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Atlas Mara looks to acquire Barclays non-SA assets

In the wake of Barclays’ announcement that it will pull out of Africa over the next two to three years, the Financial Times reports that the bank’s former CEO, Bob Diamond, is in preliminary talks with global investors to raise capital to acquire the bank’s operations outside of South Africa. Sovereign Wealth Funds in the Middle East and Asia are thought to be the most likely sources of funding, which will not be without its challenges given the fact that Atlas Mara’s market cap is only about 15% of the £1.5 billion value of Barclays’ operations outside South Africa.

Read more  Financial Times…

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