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Barclays takeover of Absa to change SA banking landscape

Standard & Poor have said the Barclays acquisition of Absa could change the competitive landscape of the South African banking sector.

If the partial takeover is completed, the acquisition of up to 60 per cent in Absa would result in Barclays re-entering the sector in South Africa and would
become the countrys largest international player.

Standard & Poor credit analyst Alise Ross says: The speed of successful integration and ongoing solid support from Barclays may result in future positive rating action for Absa bank.

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