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S.Africa Absa shareholder says to sell 3.4 pct stake

Wednesday, 10 Oct 2012 | 7:22 AM ET

JOHANNESBURG, Oct 10 (Reuters) - South African black empowerment group Batho Bonke Capital plans to sell 24.7 million shares in South African bank Absa Group , a director for the consortium said on Wednesday.

"Batho Bonke is in the process of disposing its shares," Yolande Cuba, a director of Batho Bonke, told Reuters.

The stake would be equivalent to roughly 3.4 percent of Absa's outstanding shares.

Shares of Absa were down 2.6 percent at 134.85 rand.

(Reporting by Helen Nyambura-Mwaura; editing by David Dolan)

((david.dolan@thomsonreuters.com; +27 11 775 3150; Reuters Messaging: david.dolan@thomsonreuters.com@reuters.net))

Keywords: ABSA SHARES/