|
|
Article: Anglo's grip tightens on gold-mining.
- Article from:
- Sunday Business (London, England)
- Article date:
- December 17, 2000
CopyrightCOPYRIGHT 2000 Sunday Business Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
N
OTHING Anglo American does is done on impulse, say company watchers in South Africa who have followed the mining giant over the decades.
It is that thought which has been occupying industry minds ever since it emerged this month that the group had swapped its 15% stake in financial services group FirstRand for significant holdings in long-term rivals Gold Fields and Billiton.
The news shook the mining world as people began to digest both the short- and long-term implications.
From a short-term point of view, the $760m deal saw Anglo swap its stake in FirstRand for the Billiton and Gold Fields shares held by Remgro, a South African ...