He was believed to be en route to Dublin for meetings this weekend. Independent News & Media (INM), the parent company, is based in Ireland. A sale of the local newspaper group, which publishes The Star, looks inevitable as its holding company tries to reduce debt. Shanduka chairman Cyril Ramaphosa has also been named as a possible buyer.
The company is embarking on local cost-cutting measures of up to R100m.
The outcome of the AGM of INM in Ireland on Friday will have implications for South Africa.
Source: Business Times via I-Net Bridge
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