JSE-listed, UK-focused property group RDI Reit, whose dividend shrunk 41% in the six months to February,  could be vulnerable to a takeover, say analysts. The group, in which South African real estate counter Redefine Properties owns a 29% interest, continues to struggle, with its assets under performing amid Brexit uncertainty and changes in the behaviour of UK consumers, who are increasingly shopping online.  RDI operates as a rand hedge for South Africans, as it pays dividends in pounds. As much as 85% of its £1.618bn portfolio is located in the UK and 15% in Europe. It owns retail, hotel and industrial assets. The landlord cut its interim dividend to four pence a share from 6.75p previously. Ahmed Motara, an analyst at Stanlib said RDI Reit had strong hotel assets which would be attractive to potential buyers of the group but those buyers would then need to decide if they wanted to keep RDI’s retail assets. Evan Robins, listed property manager of Old Mutual Investment’s Macro...

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