Barclays Pays Price for Zuma Turmoil as Africa Unit Sinks: Chart
(Bloomberg) -- Barclays Plc investors angling for better returns when the lender sells shares in its African unit have instead been hit by an 18 percent decline in the asset this year. Mired in South Africa's political turmoil, threatened by its parent's disposal and battered by an S&P Global Ratings downgrade of the country's foreign-currency debt to junk, Barclays Africa Group Ltd. has fallen more than any other banking stock in Johannesburg in 2017.
To contact the reporter on this story: Renee Bonorchis in Johannesburg at rbonorchis@bloomberg.net.
To contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, Vernon Wessels, Sheldon Reback
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