Johannesburg - Nedbank Group [JSE:NED] expects to exercise
its right to an acquire Ecobank stake as early as November and will pay for the
deal out of its own cash, its chief executive said on Monday.
Nedbank lent its pan-African counterpart $285m, which it has
the right to convert into equity. Chief Executive Mike Brown made the comments
at a presentation of the bank's full-year earnings.
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