Sanlam monitoring Naspers dispute
Sanlam is one of the most powerful shareholders in Naspers’s opaque control structure
As calls mount for a public inquiry into the controversial relationship between Naspers subsidiary Multichoice and the SABC, insurer Sanlam said it was not in a position to comment on the merits of any allegation as it was not involved in the day-to-day running of Naspers or its subsidiaries. "As a responsible citizen, Sanlam will monitor any investigations into these allegations and decide on the appropriate course of action as a shareholder, if any, once a due process is completed at Naspers," said Sanlam CEO Ian Kirk. Sanlam is one of the most powerful shareholders in Naspers’s opaque control structure, which includes listed low-voting N shares and unlisted high-voting A shares. Deon Botha, head of corporate affairs at the Public Investment Corporation, said the PIC was committed to the highest standards of corporate governance and expected the same commitment from all investee companies. The PIC is the largest holder of the listed N shares with a stake of just under 14% worth ab...