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ACL to buy out ICT for R800m

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DR_1
Super Contributor
Looks like grabbing - Sens says that ACL has settled to purchase ICT for R800m...for what ..having contacts and filling out the forms two minutes before
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22 REPLIES 22
SimonPB
Valued Contributor
or the flip side .. the price ACL pays for not renewing when they should have ..
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Not applicable
is this good or bad for the share price?
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sponono
Super Contributor
going up in thin trade. its obvious investors who believe good ethics go hand in hand with good business will not touch this tainted stock. time to go short big time!!!!!!!!!!
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kwagga
Super Contributor
No winners here except for high ranking ANC cadres. This is louting at possibly the highest level you will ever see. Shareholders will bite the R 800 million bullet. Wonder if the major institutional shareholders will just sit on their hands with this one?
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striker
Super Contributor
This deal smells - some " so called " BEE dudes with govt. connections have just made a killing without lifting a finger. Would'nt surprise me if govt. ministers have got their fat dirty fingers in this pie as well. This deal ought to be investigated !!!
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SimonPB
Valued Contributor
I wouldn't call R83m so far today thin ???
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striker
Super Contributor
The looting continues unabated - yet some say we should behave like model citizens to make a better SA.Problem is there will be nothing left for the deserving under priviledged after this govt.has raided everything for their back pockets.I am sickened by their sheer and audacious greed.
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Not applicable
According to technicals theres a double top waiting to be confirmed then we could go down from there. Any other views?
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topgun
Super Contributor
But money demands of you the highest virtues, if you wish to make it or keep it. Men who have no courage, pride or self-esteem, men who have no moral sense of their right to their money and are not willing to defend it as they defend their life, men who apologise for being rich - will not remain rich for long. They are the natural bait for the swarms of looters that stay under rocks for centuries, but come crawling out at the first smell of a man who begs to be forgiven for the guilt of owning wealth. They will hasten to relieve him of the guilt - and of his life, as he deserves. Then you will see the rise of the men of the double standard - the men who live by force, yet count on those who live by trade to create the value of their looted money - the men who are the hitch-hikers of virtue. In a moral society, these are the criminals, and the statutes are written to protect you against them. But when a society establishes criminals-by-right and looters-by-law - men who use force to seize the wealth of disarmed victims - then money becomes its creators' avenger. Such looters believe it safe to rob defenceless men, once they've passed a law to disarm them. But their loot becomes the magnet for other looters, who get it from them as they got it. Then the race goes, not to the ablest at production, but to those most ruthless at brutality. When force is the standard, the murderer wins over the pickpocket. And then society vanishes, in a spread of ruins and slaughter. Do you wish to know whether that day is coming? Watch money. Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion - when you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favours - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you know that your society is doomed. Money is so noble a medium that it does not compete with guns and it does not make terms with brutality. It will not permit a country to survive as half-property, half-loot. When you have made evil the means of survival, do not expect men to remain good. Do not expect them to stay moral and lose their lives for the purpose of becoming the fodder of the immoral. Do not expect them to produce, when production is punished and looting rewarded. Do not ask, Who is destroying the world?" You are!" Ayn Rand - Atlas Shrugged. http://www.busrep.co.za/index.php?from=rss_&fArticleId=5596920
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striker
Super Contributor
....and that sums up the disease that permeates through this govt. and their crony friends and fellow looters.
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Galuc
Super Contributor
I understand and agree that something untoward is brewing that hasn't come to surface yet, but are we not "killing the messenger" Mital management should get horsewhipped for not renewing, surely ICT just saw the "gap" and now ACL must pay for varsity fees! I won't be surprised if they walk away from the arbitration, what a slap in the face for ACL shareholders and ICT (Zuma clan) are a little bit better off!
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striker
Super Contributor
Surely all mining /mineral rights,such as the Sishen one should revert back to the govt's dept. of mining,and any sale of those rights ,should go into state coffers - not private individuals. This is graft of the highest order,at the highest levels - another armaments deal scam,on a smaller scale. This deal must surely be challenged - we have'nt heard the end of this daylight robbery !!
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fusion12321
Frequent Contributor
who cares. i bought acl cheap and sold higher.
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3JN2
Frequent Contributor
Appears there is no longer any need to fear nationalsation of mines etc the Malema way. Easier and more profitable to direct say 20% of mining rights to specific cronies as we have seen with Mittal/Kumba and Lonmin. Wait for them to do this to banks etc.
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SimonPB
Valued Contributor
the rights did revert back to the department .. crown mining swooped in, and fees will be paid .. but they determined on mined product I thinks .. the trick is the ability to on sell rights, that a grey area which ACL may still have to navigate ..
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SimonPB
Valued Contributor
mining rights were nationalised ages ago .. the use it or loose it policy with ownsership requirements ..
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striker
Super Contributor
@ fusion - maybe you'll care when all mines are nationalised,and you wont have any more buy low sell high opportunities - wake up man this country is being raped !
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fusion12321
Frequent Contributor
then leave and go stay in a flat in london.
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striker
Super Contributor
You remind me of our former minister of safety and security (Ngklala- something) whose wisdom (like yours) was that the whiners should leave for Australia. What sage advice,what mentality .
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