Speculation about the future of South Africa’s Nedbank has ended following Old Mutual’s confirmation of talks with HSBS regarding a buy of up to 70% of the bank in a deal that could be worth as much as $7 billion.

After riding highs not experienced in two and a half years, the rand has begun its retreat against the US dollar, and the threat of potential violence among striking government employees – numbering as many as 1.3 million – could weigh heavily on the currency in the coming days. The week started off strong, with [...]