Why Reinet is still not smoking hot
Reinet may have much less puff from British American Tobacco now, but angst over its lack of diversification is high
The smoke is finally beginning to clear at Reinet, the R90bn international investment vehicle controlled by the Stellenbosch-based Rupert family.
But shareholder frustration may still be smouldering, even though results for the year to end-March showed clear shifts in the investment portfolio. For a start, the tobacco interests are much smaller, and the dividend has been fattened up...