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South Africa's Old Mutual to sell Nedbank shares

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Staff Writer | October 18, 2018
Africa   Old Mutual holds a majority stake in Nedbank

South Africa's Old Mutual said on Wednesday it would sell around 5.5 million shares in Nedbank Group 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.

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