ANGLO American is discussing a deal worth about $1bn to sell its De Beers diamond business, a fraction of what the one-time diamond monopoly was once worth, said Bloomberg News. Anglo’s efforts to sell De Beers has been hampered by a downturn in diamond prices which is related to weak Chinese luxury demand, competition from synthetic stones, and trade tensions. Anglo has taken three impairments on its De Beers stake in three years, cutting its carrying value to $2.3bn in February. Anglo bought out the Oppenheimer family’s stake in 2011 in a deal valuing De Beers at almost $13bn, down from more than $18bn in 2001. Botswana, which owns the remaining 15% and produces most of De Beers’ output, is seeking a larger stake.