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Steinhoff

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Regular Contributor
Whats is it with Christo Wiese and his mates. Every time this share recovers they come out with some new announcement that destroys the share price. The share gets to R94 announce a book build - share goes to R84 - New idea buy in Australia Christo buys everything Gets his mates in Stellenbosch to do the deal at a discount The share goes to R63 Now as a Xmas present to us poor shareholders he announces he will merge with Shoprite - Really????
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17 REPLIES 17
Super Contributor
Just a game to them.
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Regular Contributor
And I thought the SABC board review or what ever you want to call it would be this weeks joke
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Super Contributor
They will suppress SNH share price so that CW will get more SNH shares when SNH does buyout SHP or the new Entity, which will be at the expense of other shareholders.
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mosismoke
Contributor
He did that with Brait, I am learning to stay away from Dr W's companies
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Regular Contributor
I didnt realise he needs more cash - I am very annoyed that the Chairman of both SNH and SHP would actually act against the interests of both companies Maybe he wants to be the mayor of Stellenbosch or is he upset that Steinhoff supports out Blitzbokkies and they didnt win at Cape Town - this merger is strange
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Regular Contributor
I must be honest I am very bitter as I lost almost R150k today (still early days) today from a profit of R40k at 10am - Dr ( of what?)Wiese must want a job in parliament as this is enrichment of his family at the expense of the shareholders - Sounds familiar?? Nklanda
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Super Contributor
That really came out of left field. What a bummer for shp and snh shareholders.
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mosismoke
Contributor
His actions wiped a fortune (in my humble standards) of my portfolio then as it did today. But I guess he is taking care of his billions. Still hurting
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Regular Contributor
IMO, I think it is a good strtegic move. I support it!! Once approved by competition commission, I think this empire will fend off competitors like wallmart
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Super Contributor
Oh come on - you knew when Whitey hung up his white coat and announced he was going to retire - this was going to happen - and watch for the nxt round ..cos Wiese is going to retire...and he is putting all his toys into different boxes - as one would of course.
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leoridge
Contributor
Interesting reaction from market, this having been on the table for a number of years now.
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Regular Contributor
SHP taking over SNH Africa operations was never on the table. SNH taking over SHP was. But at the end of the day it looks like Dr W will get SHP by issuing SNH shares.
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Regular Contributor
Dont worry about the share price volatility. Invest in the company and not the share price.
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Super Contributor
Best to purchase Steinhoff or Shoprite? I would leaning towards Steinhoff
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Regular Contributor
Best to buy Pick n Pay or anything that the blokes in Stellenbosch dont have or want to own
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Super Contributor
ha ha - yip sold Brait after the Pepkor deal and saw Wiese and mates were purchasing shares in Steinhoff only a couple of weeks before the announcement.. still can't believe JSE did not look into this ..
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rosszar
Contributor
Steinhoff looking more and more like a ponzi scheme to me.. Ok not really, but too many moving parts to analyze properly..I am staying away. Would have preferred a pure SHP share over this move designed to accomodate CW.
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