EOH lifts lid on R1bn scandal; Tongaat wants debt holiday; Amplats dazzles; GEPF looks offshore; Thiel targets Google

BizNews — Johannesburg listed ICT group EOH has been rocked by allegations of bribery, corruption and theft, with its CEO Stephen van Coller saying on Tuesday that an internal probe has revealed that "about eight" people had been involved in a "suspicious transaction" totalling R1.2bn between 2014 and 2017. The once-great Tongaat Hulett is fighting for survival. The KwaZulu-Natal corporate giant wants an interest repayment holiday on R11bn worth of debt and is cutting costs and restructuring, says Bloomberg. Anglo American Platinum is set to dazzle investors when it unveils its financial results on July 22. One of South Africa’s biggest shareholders of South African listed companies, the Government Employees Pension fund, wants to invest more of its R2 trillion under management outside the country. Paypal co-founder Peter Thiel has lashed out at Google for cosying up to the Chinese government, with US President Donald Trump moving quickly to support the billionaire silicon valley entrepreneur.

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