Trio vie for 26% SNO stake

21 Oct 2004

Three companies have expressed an interest in buying the unallocated 26% stake in South Africa’s troubled second national operator (SNO), according to communications minister Ivy Matsepe-Casaburi. Old Mutual Asset Managers, Tata Africa Holdings and an anonymous third party have all thrown their hats into the ring. The former is reported to be linked to a black empowerment group, Nexus, which is already a shareholder in the SNO, while the latter is the local subsidiary of the Indian conglomerate Tata.

South Africa