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Barclays Africa shares plummet as UK bank prepares exit

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Barclays headquarters in London. (iStock)
Barclays headquarters in London. (iStock)

Johannesburg - Barclays Africa dropped the most in seven weeks on speculation the lender’s London-based parent plans to sell it’s 62.3% stake as part of a plan to exit operations on the continent.

This story was updated at 13:15.

Shares in Barclays Africa slid as much as 6.8% to R135.02, the biggest decline since January 11. The securities were trading 4.5% down at R138.39 as of 12:39.

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