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STOCKS NEWS AFRICA-Absa recovers after sell-off

STOCKS NEWS Reuters Results diary Stocks on the move Real-time Equity News 0829GMT DDMMM12 - Absa recovers after sell-off ----------------------------------------------

Shares of South Africa's Absa Group recover more than 1 percent to 136.11 rand following a sharp sell-off in the previous session, when shares were hit by news a group of black shareholders had sold a stake in the bank worth about $370 million.

Shares of Absa slid nearly 3 percent on Wednesday.

Batho Bonke Capital, a consortium of black investors led by prominent businessman and politician Tokyo Sexwale, offloaded a roughly 3.4 percent stake in Absa, almost all of its holding, allowing it to exit one of the post-apartheid era's high profile "black empowerment" deals.

South African companies have used such deals - loan shares to black investors or selling stakes at a discount - to increase their black ownership and meet government targets to help those disadvantaged by the apartheid regime.

Reuters Messaging: david.dolan.thomsonreuters.com@reuters.net

Keywords: MARKETS AFRICA STOCKSNEWS