10th Mar 2016 14:14
LONDON (Alliance News) - Barclays PLC has received "a lot of interest" in the stake it holds in its African banking business, Chief Executive Officer Jes Staley said on Thursday.
Staley's comments come one week after he set out plans to sell down the group's 62% stake in Johannesburg-listed Barclays Africa Group over the next two to three years. In an interview with Bloomberg Television, the CEO said Barclays would consider selling the stake in full.
"The idea of keeping some optionality in Africa is attractive, but for sure at some point there's a price where a strategic sale might make sense," Staley said in the interview.
"We've given ourselves time, two to three years, to get the sale done in a way that protects the franchise of Barclays in Africa, because it is a separate bank," Staley said.
Shares in Barclays were up 0.7% at 165.80 pence on Thursday afternoon.
http://www.bloomberg.com/news/videos/2016-03-10/barclays-ceo-jess-staley-on-bank-s-strategy
By Samuel Agini; [email protected]; @samuelagini
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