The Public Investment Corporation’s investment team tried by all means to protect shareholder interests from increasing exposure to companies linked to Independent Media owner Iqbal Survé.
“Ultimately there is exposure to an individual… once again it adds to the risk concerns,” Molebatsi said. “It cannot be that part of these funds are used to extinguish a liability they owe to the PIC on the other side,” Molebatsi added. “One had to get to a point where we you say, if we were being forced to put our money here, then we can only do it at R7. If we had a choice as a team, of whether we wanted to do it or not, the answer is we probably wouldn’t want to do it,”. Molebatsi said.
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