Investor drops Vodacom share sale

first_imgHome Investor drops Vodacom share sale AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 08 AUG 2016 Previous ArticleHTC sees uninspiring July salesNext ArticleInterview: Orange Money Author Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including… Read more MTN, Vodafone still standing in Ethiopia contest MTN eyes $6B valuation for money unit Relatedcenter_img MTN expects fintech spin-off within a year MTNVodacom The planned sale by the country’s Public Investment Corporation (PIC) of a stake of approximately 15 per cent in South Africa’s Vodacom to black investors has fallen through, said Bloomberg, citing sources.No reason was given for the PIC’s change of heart, which could have serious ramifications for Vodacom.The PIC, which invests government workers’ pensions, was aiming to sell its stake to a consortium led by Romeo Kumalo, a former Vodacom executive, a move which would have boosted Vodacom’s black shareholding.An increase in black shareholding would also enable Vodacom to participate in a spectrum auction that the Independent Communications Association of South Africa (ICASA), the country’s regulator, is planning early next year. Companies need 30 per cent black ownership to place a bid.However, ICASA faces potential legal action from the country’s government, which might mean the sale does not go ahead as planned.The ownership rule is part of South Africa’s push to improve black ownership of industries, addressing an issue that is a hangover from the apartheid era.Vodacom is currently 19 per cent owned by black investors, compared with 39 per cent for MTN Group Ltd. Both companies are based in Johannesburg. Money Tags Richard Handford last_img read more

Wallace bests Beef to win Indian Open playoff

first_imgNEW DELHI – Matt Wallace birdied the first playoff hole against fellow Englishman Andrew ”Beef” Johnston to win the Indian Open on Sunday. Wallace went for the green in two on the playoff hole, the 18th, needing only 20 feet for an eagle. Johnston laid up and had a longer putt for birdie, which he missed, and Wallace won when he tapped in from a foot. ”Since being 3-over through 8 in my first round, I’ve played some off my best golf,” Wallace said. Johnston shot a final-round 66, Wallace a 68. They finished with 11-under totals of 277 at the DLF Golf and Country Club. Sihwan Kim of the U.S. finished third after a 68, three strokes behind. Full-field scores from the Indian Open Hometown favorite Shubhankar Sharma faded on the back nine with a 75 to finish seven shots behind. Sharma and Wallace shared the lead after the third round. But Sharma bogeyed two of three holes on the back nine, including a double-bogey 7 after an out-of-bounds tee shot on the 15th, to end his chances of winning his third European Tour event of the season. Sharma already had a victory of sorts this week: He received a special invitation to play in the Masters at Augusta. The 21-year-old Sharma held the 54-hole lead in his first World Golf Championship appearance last week, in Mexico. He finished tied for ninth after a closing 74. He was ranked No. 462 in the world three months ago when he shot 61 in the second round and won the Joburg Open. He closed with a 62 last month to win the Malaysian Open, making him the only two-time winner on the European Tour this season.last_img read more

Sellers Beware: Staging Can Help Sell Your Home!

first_imgIt wasn’t just the tall cheetah print chairs, luminous red and green chandeliers strung from the ceiling, that were distracting. When apartment hunters stepped into the 5-floor studio for sale, they found a white leather upholstered bed with red and orange shimmering pillows, funky artwork and a hanging L.E.D. lamp giving off different shades of colors. Some said it reminded them of a set out of a science fiction movie.“Some would laugh,” said one of the listing brokers for the building. This was the model apartment for a condominium conversion project, and it was not selling itself, much less helping to sell other units in the same building as it was intended to do.“They quickly realized that it hurt more than it helped,” the broker said.I knew it would take more than replacing towels to make buyers feel comfortable in a space where even Lady Gaga might crave beige walls and cream couches.With help from an interior designer, he had the white wood floors stained a darker shade and installed furniture more commonly found in Manhattan apartments, like a rectangular bed. He strategically placed on the kitchen counter martini glasses, a bowl of lemons and a shaker primed for after-work cocktails and left around reading material like the Sotheby’s catalog.“This is the where I would live: said most of the people viewing the model, and a lot of people can identify with this,” said the new management team members as the owner walked through the new model unit.The designer’s efforts had paid off.
 During the real estate boom, eager buyers bought units requiring enormous imagination to picture as homes: They bought un-built condos or empty spaces with blank walls. Today, buyers are much less likely to take risks on apartments, lofts, condos and single-family homes where they cannot figure out how to fit in their sofa bed or sideboard. So, brokers have been redecorating old model units or filling unfurnished apartments by doing it themselves, which can back fire if you don’t have the eye for design (to save cash), or by doing the smart thing, hiring a interior designer.The difference between three years ago and now is that you could have actually shown an empty apartment without much staging, the market was great, but now – we all know what is happening do I need to go any further?For some high-end listings, the brokers will fill cabinets with fine china, not just “dishes in there from Kmart.” He has even had brokers fill closets of for-sale apartments with clothing like “Louis Vuitton, Prada, Chanel, and Paul Smith.”If you’re going to hang anything in the closet, it should be a name brand that the buyer can relate to
. The clothing and accessories do not go to waste, they get moved to the next condo project.But we must remember nothing comes cheap. There is a price to pay to hire a creative designer/team to execute a amazing sexy retro to traditional styles. So hire a designer who has the vision and can turn a blank canvas into a home – ”your home.”last_img read more