Motsepe’s ARC rules out share buybacks as discount widens
The group’s investment in Rain paid off as the company rolled out 5G coverage during the period, though SA’s weak economy took a toll
19 March 2020 - 09:23
UPDATED 19 March 2020 - 16:04
Johan van der Merwe, co-CEO of Patrice Motsepe's African Rainbow Capital (ARC), has ruled out share buybacks to shore up the investment holding company's market value, which is languishing more than three-quarters below the value of its underlying assets.
Founded about four years ago by Motsepe, Van der Merwe and co-CEO Johan van Zyl to build a black-controlled conglomerate, ARC has accumulated a number assets spanning everything from life telecoms and fund management to banking and agriculture...
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