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Wiese to loosen grip on voting rights at Shoprite

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Top read this week | Wiese to loosen grip on voting rights at Shoprite

Billionaire Christo Wiese is loosening his grip on Shoprite, the company he helped turn into the biggest food retailer in Africa after taking control of it almost four decades ago.

On Tuesday Shoprite said it is in discussions with 77-year-old Wiese to unwind a holding structure that gives him a third of the voting rights, even though he holds only 16% of the ordinary shares.

 

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Christo Wiese to loosen grip on voting rights at ShopriteRetailer in discussions to unwind a holding structure that gives him a third of voting rights Now should we applaud him
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Christo Wiese to loosen grip on voting rights at ShopriteRetailer in discussions to unwind a holding structure that gives him a third of voting rights Now should we applaud him
Source: BDliveSA - 🏆 12. / 63 Read more »