How Christo Wiese’s Shoprite sale bombed
Share sale agreement collapses at a time when there is a lot at stake for embattled chair Christo Wiese
Billionaire Christo Wiese has shrugged off Shoprite’s decision to abandon an agreement to buy back shares from an entity he owns.
The decision by Shoprite’s board was not entirely unexpected, but it still surprised the market. It would have valued the shares at R3.4bn.