November 8, 2017 / 11:30 AM / 10 days ago

Steinhoff shares down after Reuters report on undisclosed deals

JOHANNESBURG (Reuters) - Steinhoff International’s Johannesburg-listed shares fell to a 10-week low after Reuters reported the company did not tell investors about almost $1 billion in transactions with a related company despite laws that some experts believe require it to do so.

Shares in the furniture retailer (SNHJ.J) dropped to 56 rand in early trading, but recovered to 59.46 rand by 1113 GMT, around 3.9 percent weaker than its closing price on Tuesday.

Reporting by TJ Strydom; editing by Jason Neely

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