Nedbank Group's majority shareholder, London-listed Old Mutual has received a proposal from HSBC, one of the largest global banking organisations, to acquire a controlling shareholding in Nedbank Group.
"Should the proposed transaction go ahead, Nedbank Group will remain listed on the JSE and the Namibian Stock Exchange," Nedbank said in a statement on Monday.
According to Nedbank Group chairman, Dr Reuel Khoza, Old Mutual, which holds a 53 percent stake, had been "a supportive parent" and together the companies had contributed to the growth in their respective businesses.
