From R565.65 million to zero for South African fibre cable company

[Newsfeed]

From R565.65 million to zero for South African fibre cable company

A prominent local fibre-optic cable manufacturer is in business rescue, and its factory is being auctioned off. It was majority-owned by the same investment company that holds indirect minority stakes in Vumatel and DFA.

 

[My_King]

 

[Pythonista]

Big surprise .... another BEE deal goes south ... who would've guessed.

 

[Swa]

So a company that makes optical fibre in SA goes bust. Wonder why...