Bob Diamond, who was ousted as boss of Barclays in July last year after the Libor rate-rigging scandal, is set to return to banking industry by listing a shell company in London to invest in African banking sector.
Diamond is expected to list a cash shell called Atlas Mara in the coming fortnight and will partner with African entrepreneur Ashish Thakkar on the project.
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The two financiers are planning to raise about £150 million via a publicly-quoted cash shell with the purpose of buying assets in emerging markets.
They have found support for the venture but declined to reveal their names.
Atlas Mara flotation will be managed by Citigroup.
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