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?
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
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