Although no concrete information has been divulged, it remains to be seen who will be the major player to buy the shares, whether locally or internationally.
The global banker listed as part of its rationale for the sell-down that despite a strong returns profile locally, Absa’s contribution is significantly diluted at Barclays Group level.
Absa has been on the receiving end following a march by the ruling party ANC, that prompted the league’s youth president Collen Maine to withdraw his membership, amongst others.
Barclays sponsors the Premier League in UK and Absa backs PSL.
Recently, the group terminated its contract with SARU.
With all the uncertainty it remains to be seen, if the sponsorship will be affected as the story unfolds.
