AngloGold CE’s exit gets measured response as analysts weigh Vedanta’s intentions
The measured response of analysts and investors to the departure of veteran AngloGold Ashanti CEO Srinivasan Venkatakrishnan, who is due to head Vedanta Resources, contrasted with the emotional farewell he was given at the company. Venkatakrishnan’s decision to leave AngloGold, the largest gold miner by market capitalisation on the JSE, also raised questions in the market about the timing of his appointment to India’s diversified miner. Vedanta’s poker-faced executive chairman Anil Agarwal has bought options to a 21% stake in London-based diversified miner Anglo American through his family-owned company. He has played down speculation about his intentions with Anglo, a company he once courted for a tie-up with Vedanta. Anglo spurned the overture and since then Agarwal has steadily accrued a potential stake in Anglo, essentially leasing shares from other investors with the option to buy the stock. "Venkatakrishnan has long had a good reputation in South African mining circles," said ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.