Why Shoprite wants to pay Christo Wiese R3.3 billion

Christo Wiese. Picture: Supplied.

Why is Shoprite asking its shareholders to approve the payment of R3.3 billion to Christo Wiese in exchange for his high-voting shares?

What does the deal entail?

Ray White (in for Bruce Whitfield on The Money Show) interviewed Simon Brown, Financial Educator at Just One Lap.

Listen to the interview in the audio below (and scroll down for quotes from it).

I’ve moaned about these shares for 15 years… They were there to prevent a hostile takeover… They had a purpose…

Simon Brown, Financial Educator - Just One Lap

Why are we as shareholders being asked to bail Christo Wiese out?... Shoprite could just say, ‘Sorry about your loss of wealth’…

Simon Brown, Financial Educator - Just One Lap

I thought Christo Wiese would get the support… but I suddenly think it’s going to get a lot closer…

Simon Brown, Financial Educator - Just One Lap

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : Why Shoprite wants to pay Christo Wiese R3.3 billion


Recommended

by NEWSROOM AI
Read More
Feeling tired of life and burnt-out? You may want to check this out

Feeling tired of life and burnt-out? You may want to check this out

Bruce Whitfield interviews Judy Klipin, author of “Recover from Burnout: Life Lessons to Regain your Passion and Purpose”.

'I get anxious when people talk to me about money'

'I get anxious when people talk to me about money'

Bruce Whitfield interviews comedian Anne Hirsch about her attitude to money (hopes and fears, successes and failures, etc.).

Allowing more skilled foreigners into SA will make us all more prosperous

Allowing more skilled foreigners into SA will make us all more prosperous

In one bold move, South Africa can secure leadership on the Continent while fixing our skills shortage, says Pavlo Phitidis.

Christo Wiese sues Steinhoff for R59 billion

Christo Wiese sues Steinhoff for R59 billion

Companies in Wiese’s Titan Group lodged the claims, relating to investments made in Steinhoff. Bruce Whitfield interviews Wiese.

Financial educator Simon Brown comes clean about his own money habits, beliefs

Financial educator Simon Brown comes clean about his own money habits, beliefs

The Money Show’s Bruce Whitfield interviews Brown about his attitude to money (hopes and fears, successes and failures, etc.).

Meet Shoprite’s Christo Wiese, ruler of retail (and 3rd richest African)

Meet Shoprite’s Christo Wiese, ruler of retail (and 3rd richest African)

Bruce Whitfield interviews the remarkable Wiese (net worth R100 billion!) about how it all began and where it’s going.

Popular articles
Feeling tired of life and burnt-out? You may want to check this out

Feeling tired of life and burnt-out? You may want to check this out

Bruce Whitfield interviews Judy Klipin, author of “Recover from Burnout: Life Lessons to Regain your Passion and Purpose”.

Allowing more skilled foreigners into SA will make us all more prosperous

Allowing more skilled foreigners into SA will make us all more prosperous

In one bold move, South Africa can secure leadership on the Continent while fixing our skills shortage, says Pavlo Phitidis.

Were missing SA men victims of Vietnamese organ harvesting syndicate?

Were missing SA men victims of Vietnamese organ harvesting syndicate?

Gift of the Givers fears two South African men who went missing in Vietnam may have fallen prey to an organ harvesting syndicate.

[WATCH] Father and daughter dance-off changes tune when she starts twerking

[WATCH] Father and daughter dance-off changes tune when she starts twerking

Khabazela shares tweets and Facebook posts that have gone viral.

'Crimes against tourists need to be taken seriously'

'Crimes against tourists need to be taken seriously'

Tourism Business Council of South Africa's Tshifhiwa Tshivhengwa raises concerns on transgressions committed against SA visitors.

Safety of visitors to Cape Town in the spotlight ahead of tourist season

Safety of visitors to Cape Town in the spotlight ahead of tourist season

CEO at Cape Town Tourism Enver Duminy explains what plans are in place to make sure local and foreigner tourists are safe.