{"id":176215,"date":"2017-05-22T17:24:13","date_gmt":"2017-05-22T15:24:13","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=176215"},"modified":"2017-05-23T15:36:38","modified_gmt":"2017-05-23T13:36:38","slug":"telkom-mtn-execs-bid-for-anglo-american-project","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/176215\/telkom-mtn-execs-bid-for-anglo-american-project\/","title":{"rendered":"MTN exec considered bid for Anglo American project: report"},"content":{"rendered":"<p><strong>Correction<\/strong><\/p>\n<h3 class=\"my-4\"><em>An earlier versions of this story has been corrected to show that interested parties including those related to Sipho Maseko, and Jabu Mabuza, did not submit formal bids<\/em><\/h3>\n<h3 class=\"my-4\"><em>The headline and first two paragraphs have been corrected\u00a0 to accurately reflect the above.<\/em><\/h3>\n<h3 class=\"my-4\"><em>The initial headline read: Telkom, MTN execs bid for Anglo American project: report<\/em><\/h3>\n<hr \/>\n<p>Anglo American&#8217;s New Largo project has attracted interest from several parties as the company forges ahead with plans to scale down operations in South Africa.<\/p>\n<p>Citing two people familiar with the process, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-05-22\/anglo-said-to-get-new-largo-bids-from-telkom-executives-seriti\">Bloomberg<\/a> on Monday reported that MTN Group chairman Phuthuma Nhleko\u2019s Phembani Group considered bidding, while separate groups that included Telkom CEO, Sipho Maseko, and Jabu Mabuza, the telco&#8217;s chairman, also considered buying Anglo coal assets including a package that previously included New Largo.<\/p>\n<p>The paper said that Seriti Resources Holding, which have already agreed to purchase thermal coal mines from Anglo American, is also among the bidders.<\/p>\n<p>One source said that the bids\u00a0 are in the R1 billion range, while significant investment would be required to develop the mine.<\/p>\n<p>Bloomberg said that the\u00a0sale, which is expected to take up to four months, would help complete Anglo\u2019s exit from businesses that provide coal to Eskom.<\/p>\n<p>MTN paid Nhleko a R72.2 million salary for the 2016 financial year, despite the group posting a first-ever annual loss in its 22-year history.<\/p>\n<p>Nkhleko drew a salary as chairman, as well as for when he took over as executive chairman\u00a0to guide MTN through its Nigeria crisis.<\/p>\n<p>Nhleko is the chairman and co-founder of the Pembani Group, which merged with Shanduka Group, creating a business with a portfolio value in excess of R9 billion.<\/p>\n<p><a href=\"https:\/\/businesstech.co.za\/news\/wealth\/110329\/5-ultra-rich-black-south-africans\/\" target=\"_blank\" rel=\"noopener noreferrer\">According to reports<\/a>, Nhleko has assets amounting to R1.74 billion.<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/energy\/169497\/anglo-american-offloads-eskom-linked-coal-operations-for-r2-3-billion\/\" target=\"_blank\" rel=\"noopener noreferrer\">Anglo American offloads Eskom-linked coal operations for R2.3 billion<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Anglo American&#8217;s New Largo project has attracted interest from several parties as the company forges ahead with plans to scale down operations in South Africa.<\/p>\n","protected":false},"author":10,"featured_media":38827,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[2318,26,28,65],"class_list":["post-176215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile","tag-anglo-american","tag-headline","tag-mtn","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/176215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=176215"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/176215\/revisions"}],"predecessor-version":[{"id":176349,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/176215\/revisions\/176349"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/38827"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=176215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=176215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=176215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}