view from the thames
DEON GOUWS: A very British perspective on JSE listings
Perhaps the South African finance minister should follow the example of his UK counterpart to attract listings to the JSE
BHP’s proposed takeover of Anglo American has been roundly criticised by politicians, including finance minister Enoch Godongwana and mineral resources & energy minister Gwede Mantashe. That the Australians are not keen on Anglo’s platinum and iron ore interests may indeed be interpreted as a motion of no confidence in South Africa.
More broadly, this kind of deal can also be seen as a reflection on the country’s main stock exchange, where many companies are trading at what appear to be rock-bottom valuations following years of underwhelming performance. In a free market such a situation will ultimately be noticed by global players with deep pockets who are happy enough to swoop in and pick up bargains...
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