PIC ready to take stake in fibre company after Deutsche loan
Public Investment Corporation agrees to guarantee a $375m loan to Liquid Telecom parent Econet Global and buy stock after listing
26 September 2019 - 16:22
The Public Investment Corporation (PIC) is poised to take a stake in Liquid Telecom if Africa’s biggest fibre company goes ahead with a planned initial public offering (IPO), according to informed sources.
The PIC, which manages the pension funds of SA government workers, agreed to set aside funds to guarantee a $375m (R5.6bn) loan to Liquid parent Econet Global from Deutsche Bank, the three sources said...
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