Eskom PIC rescue; Rand rebound; Woolies improved outlook; SAA chair flies off; Q2 recovery?

- | 4 months ago

A proposal by the Public Investment Corporation, which is the owner of Eskom debt to convert its $6.

4bn holding into equity has become a rescue option for the troubled power utility. If the proposal is implemented, the PIC would likely get shares in the transmission unit, which is seen as a stable part of the business.

In return the PIC wants a say over Eskom’s messy finances, including board representation.

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