Reuters International

A Barclays sign is seen outside a branch of the bank in London, Britain, February 23, 2017. REUTERS/Stefan Wermuth

(reuters_tickers)

LONDON (Reuters) - Barclays is in exclusive talks to sell its stake in Barclays Bank of Zimbabwe to Malawi's First Merchant Bank, First Merchant Bank said in a statement on its website on Tuesday.

A spokeswoman for Barclays confirmed the bank is in early discussions with a prospective buyer for its 68 percent stake in the Zimbabwe bank.

Neither party disclosed a value for the prospective deal. Barclays Bank of Zimbabwe has a market capitalisation of $60 million, according to Thomson Reuters data.

(Reporting By Lawrence White)

Reuters

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