Zuma in Talks to Sell Stake in Arms Maker to Qatar, Times Says - Bloomberg

Zuma in Talks to Sell Stake in Arms Maker to Qatar, Times Says - Bloomberg:

"South Africa is in talks with Qatar to sell a majority stake in its arms manufacturer Denel SOC Ltd. to the Gulf country, the Sunday Times reported, citing a source it didn’t identify. President Jacob Zuma is also seeking to sell portions of other struggling state-owned enterprises, including power utility Eskom Holdings SOC Ltd. and South African Airways SOC Ltd., the newspaper said. The Department of Public Enterprises, which would need to approve the transaction, did not immediately respond to Bloomberg’s requests for comment. Denel was among state entities bailed out this year to prevent a call on its government-guaranteed debt. This list includes South African Airways, the South African Post Office and the South African Broadcasting Corp. which all may require further intervention, the National Treasury said in its mid-term budget report."



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