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

biznews.com

- biznews.com | 5 days 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.

read full story @biznews.com