18th Jan 2016 14:50
LONDON (Alliance News) - Barclays PLC is putting together plans to sell some of its 62% stake in Barclays Africa Group Ltd, which plays host to most of its African business, The Wall Street Journal reported on Monday, citing people familiar with the matter.
The move is part of a broader plan orchestrated by new Chief Executive Jes Staley to focus on business areas that produce higher retunrs.
More details of the plan could emerge when Barclays reports earnings for 2015 on March 1, the report said.
Shares in Barclays were down 2.9% at 186.30 pence on Monday afternoon.
http://www.wsj.com/articles/barclays-prepares-to-stage-a-gradual-retreat-in-sub-saharan-africa-1453124812
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Barclays