Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Why has CEO Chris Wiese bought R 382.5m on the 26/10

Reply
CrownA
Super Contributor
WHy has the CEO put R 382.5m into his own company. Does he know something we don't know?
0 Kudos
9 REPLIES 9
SimonPB
Valued Contributor
of course he knows stuff you don't .. if for no other reason he's the CEO .. but that doesn't make him right or smarter then you ..
0 Kudos
richardw
Super Contributor
0 Kudos
Not applicable
Maybe he needed to float the Xmas toy purchase that just landed and capital was not forth comming as it is tied in Africa expansion projects, so he made a loan in exchange for shares..... frankly why not try calling him to ask?
0 Kudos
prancing_horse
Super Contributor
The Upington boykie is Chairman, not CEO
0 Kudos
SIMBA
Super Contributor
Because he knows what will happen when they sign up with Steinhoff
0 Kudos
Not applicable
Hi Simon, I found your comment very interesting, I don't know which company Chris Wiese Chairs and was hoping that you could confirm that it is Shoprite?
0 Kudos
john_1
Super Contributor
I think the main reason here is...he can!!
0 Kudos
Quakedog
Super Contributor
Steinhoff-Shoprite tie-up not a done deal Shoprite CE Whitey Basson may scupper plans between Shoprite Holdings Ltd ("Shoprite") and Steinhoff as reports about the two firms eyeing each other emerge. According to Business Report, this would not be the first time Basson nixed possible merger plans. In 2005 it was rumoured that Shoprite and Massmart Holdings Ltd were in talks to merge, but Basson opposed the plan from the start and nothing happened. In addition, as part of a possible deal, Shoprite chairman Christo Wiese may want to swap his stake in Shoprite for shares in Steinhoff. However, without Basson's backing the deal might not occur.
0 Kudos
SIMBA
Super Contributor
I think if mr jooste decides their European sales will not recover in the near future as appears very likley then he will have to look elswhere to make up the deficit. Shoprite-Checkers is the most cost effective answer and i think this will happen either over a glass of bubbly or in the trenches but it will happen.......
0 Kudos