--Anglo American is due to start the formal sale process for its De Beers diamond business within weeks but could only get half of its $4.9 billion valuation due to a weak diamond market, the FT reports citing unnamed sources.
--The FT says that two former De Beers's CEOs--Bruce Cleaver and Gareth Penny--are planning separate bids for the company but haven't got the financing.
--The FT says Anglo has engaged bankers who are looking at either a sale of the business or possible initial public offering.
--Cleaver, Penny and Anglo American declined to comment to the FT.
Full story: https://tinyurl.com/3byd4648
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
June 09, 2025 01:27 ET (05:27 GMT)
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