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Steinhoff shares jump to a high

20 July 2018 7:46 AM
Tags:
Steinhoff scandal
Steinhoff parliamentary inquiry

Financial Mail Deputy Editor, Sikonathi Mantshantsha, looks at Steinhoff shares and Trevor Manuel's hard sell...

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)

ALSO READ: Markus Jooste flaunts his wealth at the races

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


20 July 2018 7:46 AM
Tags:
Steinhoff scandal
Steinhoff parliamentary inquiry

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