JOHANNESBURG Feb 20 South African retail
leading investor Christo Wiese will keep his stakes in both
Steinhoff International and Shoprite
despite calling off a deal to merge the two firms, he told
Reuters on Monday.
Billionaire Wiese, a shareholder in both companies and the
architect of the deal, and other investors including state-owned
pension fund the Public Investment Corporation (PIC) could not
agree on the value of a share exchange.
"We reckoned when we looked at everything, it might work for
the two largest shareholders, but not necessarily for everyone,"
he told Reuters in an interview.
"There are quite a number of things that we noticed and that
we will explore in due course to see whether there are things
where we can get the two groups to work together, but for me it
is impossible to sketch out the way forward."
(Reporting by TJ Strydom; Editing by James Macharia)