ls it true that Econet is 49percent owned by Essar?

Question

I was reading sunday mail and in it there is some which says Econet secretly sold 49 percent to Essar Comms http://www.sundaymail.co.zw/index.php?option=com_content&view=article&id=36525:ziscosteel-a-botched-deal&catid=41:business&Itemid=133#.Udk1h8twbqA

Answer 1

Econet ownership information according to the Zimbabwe Stock Exchange:

http://www.zimbabwe-stock-exchange.com/listed-company/ECO/

Ofcourse this doesn't say they don't have shareholding, just not directly if they do. And chances are, it's not 49% as reported by the Sunday May.

Comments

Thanx Kabweza, bt the journo made it very clear that this was s very secretive transaction which is questionable when our local laws are involved

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the secretive transaction is said to have taken place in 2008. That's a while back and I'm sure by now there would be more information. With 49% of the company, Old Mutual holding on to their 9.4% (I know this because they confirmed so), and some shares traded publicly, that would make Essar the company with the biggest share of Econet. Don't think so.

Answer 2

This is all directed to Masiiwa, its election period remember. And for few dirty $ notes zimpapers jonos can do anything.  It will get worse as the days and weeks go by

Comments

If it proves to wrong then thats very worrying.