RON DERBY: Grandiose plans come to naught if the right people are not at the helm
A highly regarded banker who can help Eskom CEO deal with lenders and renegotiate loans would be a great fit to replace Phakamani Hadebe
30 May 2019 - 05:08
Eskom’s situation reminds me of Nedbank 20 years ago, when it had dreams of being Africa’s premier bank and attempted to acquire the bigger Standard Bank. It was a pursuit that nearly collapsed the institution.
Some may call Sibanye-Stillwater’s bid for Lonmin an ambitious play for the platinum miner, but it pales in comparison with what Nedbank, then led by Richard Laubscher, tried to do when he went after the 157-year-old Big Blue. It was a hostile bid that caused ructions in the country’s then much smaller investment world...
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