On Monday, the judicial commission of inquiry investigating issues of impropriety at the Public Investment Corporation heard that the Government Employees Pension Fund was “uncomfortable” with the state-owned asset manager’s R2-billion investment into Independent Media.
He said in the risk report they complied concerns spanning from the print and media outlook and Independent media’s sporadic involvement in litigation: “This was a significant legal risk because it could be damaging both to reputation and financially [because the group ] was before the competition commission for investigation of anti-competitive practices,” said Mangalo.
Asked by investments expert Emmauel Lediga, an assistant to the commission, if the PIC usually put money in risky investments, Mangalo said it does, but the media group was a different kind of venture.
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Tough conditions hit Tiso Blackstar’s media businessCompany says it has prioritised cost management and disposal of noncore assets No, their crap and biased reporting hit their media business! The Sunday Times gets delivered for free at our complex every Sunday, the security guards always insists I take one, I always put it in the bin without reading it, not interested in reading anything from the Tiso stable until the stratcom journos are fired.
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Tough second half for Tiso media businessCompany says it has prioritised cost management and disposal of noncore assets
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