Nesan Nair from Sasfin Securities chose British American Tobacco (BAT) as his stock pick of the day and Jean Pierre Verster from Fairtree Capital chose SoftBank. “BAT has been under pressure due to the recent interest-rate hike but their dividend yield is at 5.5% and they are still able to grow their top line in light of lower volumes, which still represents a very compelling investment case,” said Nair. Verster said that SoftBank was the equivalent of Naspers in Japan. “SoftBank owns around 30% of Alibaba, Yahoo Japan, ARM, the chip manufacturer, and they have a large share in Sprint (the US mobile phone group).… The merger of Time Warner and AT&T [will] hopefully set a precedent for T-Mobile and Sprint, which will be good for SoftBank as it removes debt from their balance sheet.”
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