Steinhoff shares jumped to a high of R3,83 as funders were forced to agree to a debt standstill.
Last month, the company's shares hit a low of R1,07.
That's exactly what happens when you owe the banks R150 billion - time stops for them. They will wait for you...— Sikonathi Mantshantsha, Deputy Editor at FM (Financial Mail)
Mantshantsha spoke to Kieno Kammies saying it no-one was going to benefit if the embattled retailer, Steinhoff, collapsed or faced liquidation.
So the shares jumped to R3,83. Bond holders don't have a choice...— Sikonathi Mantshantsha, Deputy Editor at FM (Financial Mail)
Listen here to Mantshantsha explain why the land debate is making things difficult for Trevor Manuel...
This article first appeared on CapeTalk : Steinhoff shares jump to a high