Government to sell 11,7m MTN shares to black investors

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Government to sell 11,7m MTN shares to black investors
A fund controlled by the South African government will sell about 11.7 million shares in mobile phone operator MTN to black investors for 931 million rand, the fund and MTN said on Monday.

The National Empowerment Fund, an arm of the Department of Trade and Industry that aims to redress the economic imbalances of apartheid, will sell the shares to black individuals and investment groups for 79.61 rand each -- a 20 percent discount to the 99.51 rand 30-day average on July 20.
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I still don't like the idea of this whole black investor/BEE thing... The elite black investors continue to get richer, while the rest of South Africa either gets poorer or continues to be ripped off
 
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