Coronation takes from Richemont to give to Spar
Money manager decides to back the struggling retailer, which it says is undervalued
26 April 2024 - 05:00
Coronation, which manages funds valued at more than R600bn, has backed embattled retailer Spar to come good, believing the group presents a value proposition at its current valuation, instead of the dreaded value trap.
Spar’s share price has plunged 52% in the past five years as the group stumbled from one crisis to the next...
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