S.Africa's Absa to buy Barclays' African operations

JOHANNESBURG Thu Dec 6, 2012 1:14am EST

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JOHANNESBURG Dec 6 (Reuters) - South African bank Absa Group said on Thursday it will buy Barclays African operations for 18.3 billion rand ($2.08 billion).

The company said Barclays' stake in Absa Group will increase to 62.3 percent from 55.5 percent as a result of the deal.

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