“FOR NOW, I AM GO­ING TO SIT BACK AND CON­SIDER WHAT A PILE OF CASH LOOKS LIKE.”

Finweek English Edition - - THE WEEK IN BRIEF -

− Whitey Bas­son, for­mer CEO of Shoprite, jokes in an in­ter­view with Netwerk24 about his sale of 8.7m shares for R1.8bn back to the com­pany. He held 9.1m shares in Shoprite at the end of June 2016. Bas­son said he wants to di­ver­sify his hold­ings, and has “no in­ten­tions to buy a huge yacht, get a sec­ond wife or take [his] money out of the coun­try”. He sold at R211.01 a share, the high­est level at which the share has traded in five years, Busi­ness Day re­ported. Shoprite said the trans­ac­tion will in­crease its in­ter­est charges by about R144m a year.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.