LONDON (Standard&Poor's) May 9, 2005--Standard&Poor's Ratings Services said today that the firm intention of U.K.-based Barclays Bank PLC (Barclays; AA/Stable/A-1+) to acquire a majority shareholding in Absa Group Ltd. (Absa; not rated), the parent of Absa Bank Ltd. (Absa Bank; BBBpi/--/--), could change the competitive landscape of the South African banking sector. "If completed, the acquisition of up to 60% in Absa, one of the largest financial services groups in South Africa, would result in the re-entry of Barclays into South Africa and in it becoming the largest international player in the South African banking sector," said Standard&Poor's credit analyst Alise Ross. At year-end 2004, Absa had South African rand (R) 295.8 billion ($52.2
