Barclays CEO: Cutting Africa Will Allow Deconsolidation

Barclays Plc said it will sell down the stake in its Africa business and reorganize the company into two divisions, as fourth-quarter profit fell by more than half. The bank will sell down its 62 percent stake in Barclays Africa Group Ltd. over the next two to three years to a level that allows it to deconsolidate the business, according to a statement Tuesday. Chief Executive Officer Jes Staley told Bloomberg’s Manus Cranny and Anna Edwards on “Countdown” that he is looking to focus Barclays as a “transatlantic bank.”

Full Show: Bloomberg Technology (08/21)
34:54 - Guests include: Activate CEO Michael Wolf, Sunrun CEO Lynn Jurich and Prodigy Finance CEO Cameron Stevens. (Source: Bloomberg)
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