Regulatory nightmare may drive Implats to abandon Royal Bafokeng takeover | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 80%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Impala Platinum still has its heart set on gaining control of Royal Bafokeng Platinum, but the inability to obtain a compliance certificate from the Takeover Regulation Panel may soon force the miner to walk away from its long-held takeover ambitions.

"For me, one of the motivating factors for why we are not rated as an attractive investment destination, [is because] it is impossible to conclude a transaction in South Africa, because we have regulatory bodies that make it impossible," Implats CEO Nico Muller said at the release of the company's results on Thursday.

"I don't think it's good for anyone … that this is permitted to drag on for this long period. It is very inefficient. And if I were a foreign direct investor contemplating an investment into the South African industry and watching this playing out, I'd be extremely frightened by it."Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Well - nightmare is a good way to describe the myanc and the CyrilRamaphosa regime.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WATCH: Power cuts dim Implats’s first-half earningsBusiness Day TV spoke to Implats CEO, Nico Muller
Source: BDliveSA - 🏆 12. / 63 Read more »

Implats earnings muted by inflation and power cutsReduced electricity consumption as a result of persistent load-shedding and the rebuild of a furnace led to a 9% decline in the output of refined PGMs
Source: BDliveSA - 🏆 12. / 63 Read more »