LONDON—Bob Diamond's Atlas Mara Ltd. on Tuesday said it is considering an acquisition of Barclays PLC's stake in Barclays Africa and a potential combination of the two companies.

Atlas Mara said it has had talks with a consortium of investors, including include Atlas Merchant Capital, founded by Mr. Diamond, Barclays's former chief executive, and the Mara Group, founded by Ashish J. Thakkar.

If an agreement is reached with Barclays, the consortium plans to start talks about a merger, Atlas Mara said, adding that Messrs Diamond and Thakkar won't be part of the talks.

Given the significant complexity and early stage of the discussions with the consortium, there can be no assurance a del will be done, Atlas Mara said.

Barclays announced earlier this year it planned to sell down its interest in its African business, pledging to cut its 62% stake in the unit.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

April 26, 2016 03:35 ET (07:35 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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