/ 17 April 2000

NEDCOR STILL KEEN ON FBC

BANKING group Nedcor is still keen to buy FBC Fidelity Holdings and could use the troubled domestic lender as a vehicle to separately list its mass-market People’s Bank, analysts said. Speculation has mounted in the South African media in recent weeks that the sale of FBC, placed in receivership last October following a run on its deposits, is imminent. FBC curator Tim Store said on Tuesday that he has selected two potential buyers for the whole of FBC Fidelity after receiving four offers and a decision on the outcome should be made relatively soon.