Wires

S.Africa Absa shareholder says to sell 3.4 pct stake

JOHANNESBURG, Oct 10 (Reuters) - South African blackempowerment group Batho Bonke Capital plans to sell 24.7 millionshares in South African bank Absa Group , a director forthe 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 ofAbsa'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; ReutersMessaging: david.dolan@thomsonreuters.com@reuters.net))

Keywords: ABSA SHARES/

Related Tags