NEDCOR: 25,462 +467 (+1.87%)
South Africa's Old Mutual to sell Nedbank shares
JOHANNESBURG, Oct 17 (Reuters) - South Africa's Old Mutual
Ltd said on Wednesday it would sell around 5.5 million
shares in Nedbank Group Ltd to select institutional
investors, following the spin-off of the unit.
Old Mutual, which holds a majority stake in Nedbank, has
been dismantling its conglomerate structure, created after a
series of acquisitions, since it moved its headquarters and
primary listing to London in 1999.
(Reporting by Tanisha Heiberg
Editing by James Macharia)
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