Anglo starts talks with banks on possible De Beers IPO, Bloomberg says

Anglo American (NGLOY) has begun initial talks with banks about listing its De Beers diamond unit, according to people familiar with the matter, as the company looks to move ahead with the final and most difficult piece of its radical restructuring, Bloomberg’s Thomas Biesheuvel and Dinesh Nair report. Anglo is pursuing a dual-track process in its effort to exit De Beers by trying to find a buyer for the struggling business, while also starting preparations for an initial public offering as a backup solution, the authors say.