Vodacom payout ‘will hurt black investors’
BEE scheme wants to join 'Please Call Me' fight in court
22 September 2024 - 05:45
The special purpose vehicle that holds Vodacom's broad-based BEE shares has argued that if Please Call Me inventor Nkosana Makate is paid out billions of rands, in line with a Supreme Court of Appeal (SCA) judgment, black shareholders will be negatively affected.
YeboYethu, which was created in 2008 as the main black empowerment scheme for Vodacom, has 80,000 indirect shareholders who are paid regular dividends. It has filed court papers to be accepted amicus curiae (friend of the court) in the protracted legal fight between the cellphone giant and Makate...
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