An­other mo­nop­oly

Finweek English Edition - - Main Stories This Week -

WHAT HAP­PENED NO­BODY CAN ac­cuse the JSE of sim­ply giv­ing up: af­ter nu­mer­ous at­tempts over ap­prox­i­mately a decade to buy the Bond Ex­change of SA (Besa), it looks as if the JSE’s lat­est of­fer of R173,2m is mak­ing the men at Mel­rose Arch think again. The of­fer of R90/share is dou­ble Besa’s net as­set value.

said the in­tended amal­ga­ma­tion is in­evitable, even though Besa can sur­vive quite well on its own and can even list shares. Though the merger could lower risks and even costs, the Fi­nan­cial Ser­vices Board, Trea­sury and the com­pe­ti­tion au­thor­i­ties should nev­er­the­less con­sider any mo­nop­oly is­sues.

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