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	<title>Gugu Lourie</title>
	<atom:link href="http://blogs.reuters.com/gugulourie/feed/" rel="self" type="application/rss+xml" />
	<link>http://blogs.reuters.com/gugulourie</link>
	<description>Gugu Lourie's Profile</description>
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		<title>Protests by Pakistani Shi&#8217;ites spread to main port city</title>
		<link>http://www.reuters.com/article/2013/01/13/us-pakistan-bombings-idUSBRE90C0BA20130113?feedType=RSS&#038;feedName=everything&#038;virtualBrandChannel=11563</link>
		<comments>http://blogs.reuters.com/gugulourie/2013/01/13/protests-by-pakistani-shiites-spread-to-main-port-city/#comments</comments>
		<pubDate>Sun, 13 Jan 2013 15:13:26 +0000</pubDate>
		<dc:creator>Gugu Lourie</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/gugulourie/?p=50</guid>
		<description><![CDATA[QUETTA, Pakistan (Reuters) &#8211; Protests against attacks on Shi&#8217;ites spread across Pakistan on Sunday as the prime minister flew to the western city of Quetta to meet mourners who refused to bury their dead until the government promised them better protection from Sunni militants. The protests were triggered by twin bombings on Thursday targeting Shi&#8217;ite [...]]]></description>
			<content:encoded><![CDATA[<p>QUETTA, Pakistan (Reuters) &#8211; Protests against attacks on Shi&#8217;ites spread across Pakistan on Sunday as the prime minister flew to the western city of Quetta to meet mourners who refused to bury their dead until the government promised them better protection from Sunni militants.</p>
<p>The protests were triggered by twin bombings on Thursday targeting Shi&#8217;ite ethnic Hazaras in Quetta, capital of Balochistan province. The attacks, claimed by the Lashkar-e-Jhangvi militant group, killed at least 96 people.</p>
<p>Thousands of Hazaras have been holding vigils at the site of the attacks beside the shrouded victims and were preparing for a third night outside in the cold and rain.</p>
<p>&#8220;We want assurances that the killers will be arrested so our younger children will not die also,&#8221; said Sakina Bibi, 56, who sat alongside the coffins of two of her sons.</p>
<p>&#8220;They were my everything,&#8221; she wept. &#8220;Sitting here will not bring them back but it is our right to protest.&#8221;</p>
<p>Islamic tradition demands that the dead be buried as soon as possible. Leaving the bodies of loved ones above ground for so long is such a potent expression of grief and pain that many people in other cities held protests and vigils in solidarity.</p>
<p>Protests took place in five areas in the commercial capital Karachi, home to 18 million people. Protesters blocked the railway lines and the road connecting the airport to the city. Hundreds also gathered outside the president&#8217;s private house.</p>
<p>The demonstrations have coincided with another, previously planned, protest due to arrive in the capital Islamabad on Monday. Police have already sealed off portions of the capital in anticipation of the march against government corruption, led by Sufi cleric Muhammad Tahirul Qadri.</p>
<p>Prime Minister Raja Pervez Ashraf Quetta left early on Sunday to address local leaders in Quetta, said presidential aide Naveed Chaudhry. So far, the government has not made any public statement about the attacks.</p>
<p>The Shi&#8217;ites want the army to take action against the Lashkar-e-Jhangvi, to guarantee their security and for the provincial government to be fired.</p>
<p>&#8220;We will keep protesting until our demands are met,&#8221; said Raja Nasir Abbas, the secretary general of Majlis-e-Wahdat-ul-Muslimeen, a national organization of Shi&#8217;ite groups and clerics.</p>
<p>Two ministers and three other high-ranking officials wrote to the president and prime minister recommending the chief minister for Balochistan province be fired.</p>
<p>The head of police and the paramilitary Frontier Corps which has primary responsibility for security in the province, should also be replaced, said human rights minister Mustafa Khokhar.</p>
<p>&#8220;The government has miserably failed to protect the rights of its citizens,&#8221; he said.</p>
<p>Sectarian killings have been rising in Pakistan even as deaths from other militant violence have dropped. Human Rights Watch says bombings and gunmen killed more than 400 Shi&#8217;ites last year and this year may be even more bloody.</p>
<p>Lashkar-e-Jhangvi, whose roots are in the heartland Punjab province, wants to expel Shi&#8217;ites from Pakistan, where they make up about 20 percent of the country&#8217;s 180 million population.</p>
<p>(Writing by Katharine Houreld; Editing by Myra MacDonald)</p>
]]></content:encoded>
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		<title>Pakistan Prime Minister flies to Quetta to meet protesters</title>
		<link>http://www.reuters.com/article/2013/01/13/us-pakistan-bombings-idUSBRE90C03X20130113?feedType=RSS&#038;feedName=everything&#038;virtualBrandChannel=11563</link>
		<comments>http://blogs.reuters.com/gugulourie/2013/01/13/pakistan-prime-minister-flies-to-quetta-to-meet-protesters/#comments</comments>
		<pubDate>Sun, 13 Jan 2013 07:29:24 +0000</pubDate>
		<dc:creator>Gugu Lourie</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/gugulourie/?p=45</guid>
		<description><![CDATA[QUETTA, Pakistan (Reuters) &#8211; Pakistani Prime Minister Raja Pervez Ashraf flew to the city of Quetta on Sunday to meet local Shi&#8217;ites holding a protest alongside the bodies of family members killed in one of the country&#8217;s worst sectarian attacks. Thousands of the Shi&#8217;ite Hazara community, the ethnic group targeted by the blast, have been [...]]]></description>
			<content:encoded><![CDATA[<p>QUETTA, Pakistan (Reuters) &#8211; Pakistani Prime Minister Raja Pervez Ashraf flew to the city of Quetta on Sunday to meet local Shi&#8217;ites holding a protest alongside the bodies of family members killed in one of the country&#8217;s worst sectarian attacks.</p>
<p>Thousands of the Shi&#8217;ite Hazara community, the ethnic group targeted by the blast, have been holding vigils at the site of the blast beside the 96 shrouded bodies. They have spent two nights outside in the cold and rain and are refusing to bury their dead until their safety is guaranteed.</p>
<p>Islamic tradition demands that the dead be buried as soon as possible, and leaving the bodies of loved ones above ground for so long is a potent expression of grief and pain.</p>
<p>The prime minister left early Sunday to address local leaders in Quetta, the capital of the western province of Balochistan, said presidential aide Naveed Chaudhry. The protesters had rejected a delegation led by the minister for religious affairs that arrived Saturday.</p>
<p>So far, the government has not made any public statement about the attacks, which were claimed by banned militant Sunni group Lashkar-e-Jhangvi. The LeJ wants to expel Shi&#8217;ites from Pakistan, where they make up about 20 percent of the country&#8217;s 180 million population.</p>
<p>Shi&#8217;ite leaders are demanding that the provincial government be dismissed and that the army take over Quetta to guarantee their security.</p>
<p>&#8220;We want assurances that the killers will be arrested so our younger children will not die also,&#8221; said Sakina Bibi, 56, who sat alongside the coffins of two of her sons.</p>
<p>&#8220;They were my everything,&#8221; she wept. &#8220;Sitting here will not bring them back but it is our right to protest.&#8221;</p>
<p>Sectarian killings have been rising in Pakistan even as deaths from other militant violence have dropped. Human Rights Watch says bombings and gunmen killed more than 400 Shi&#8217;ites last year and this year may be even more bloody.</p>
<p>(Reporting by Michael Perry)</p>
]]></content:encoded>
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		<title>Pakistan PM flies to Quetta to meet protesters</title>
		<link>http://uk.reuters.com/article/2013/01/13/uk-pakistan-bombings-idUKBRE90C03V20130113?feedType=RSS&#038;feedName=everything&#038;virtualBrandChannel=11708</link>
		<comments>http://blogs.reuters.com/gugulourie/2013/01/13/pakistan-pm-flies-to-quetta-to-meet-protesters/#comments</comments>
		<pubDate>Sun, 13 Jan 2013 07:28:18 +0000</pubDate>
		<dc:creator>Gugu Lourie</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/gugulourie/?p=47</guid>
		<description><![CDATA[QUETTA, Pakistan (Reuters) &#8211; Pakistani Prime Minister Raja Pervez Ashraf flew to the city of Quetta on Sunday to meet local Shi&#8217;ites holding a protest alongside the bodies of family members killed in one of the country&#8217;s worst sectarian attacks. Thousands of the Shi&#8217;ite Hazara community, the ethnic group targeted by the blast, have been [...]]]></description>
			<content:encoded><![CDATA[<p>QUETTA, Pakistan (Reuters) &#8211; Pakistani Prime Minister Raja Pervez Ashraf flew to the city of Quetta on Sunday to meet local Shi&#8217;ites holding a protest alongside the bodies of family members killed in one of the country&#8217;s worst sectarian attacks.</p>
<p>Thousands of the Shi&#8217;ite Hazara community, the ethnic group targeted by the blast, have been holding vigils at the site of the blast beside the 96 shrouded bodies. They have spent two nights outside in the cold and rain and are refusing to bury their dead until their safety is guaranteed.</p>
<p>Islamic tradition demands that the dead be buried as soon as possible, and leaving the bodies of loved ones above ground for so long is a potent expression of grief and pain.</p>
<p>The prime minister left early Sunday to address local leaders in Quetta, the capital of the western province of Balochistan, said presidential aide Naveed Chaudhry. The protesters had rejected a delegation led by the minister for religious affairs that arrived Saturday.</p>
<p>So far, the government has not made any public statement about the attacks, which were claimed by banned militant Sunni group Lashkar-e-Jhangvi. The LeJ wants to expel Shi&#8217;ites from Pakistan, where they make up about 20 percent of the country&#8217;s 180 million population.</p>
<p>Shi&#8217;ite leaders are demanding that the provincial government be dismissed and that the army take over Quetta to guarantee their security.</p>
<p>&#8220;We want assurances that the killers will be arrested so our younger children will not die also,&#8221; said Sakina Bibi, 56, who sat alongside the coffins of two of her sons.</p>
<p>&#8220;They were my everything,&#8221; she wept. &#8220;Sitting here will not bring them back but it is our right to protest.&#8221;</p>
<p>Sectarian killings have been rising in Pakistan even as deaths from other militant violence have dropped. Human Rights Watch says bombings and gunmen killed more than 400 Shi&#8217;ites last year and this year may be even more bloody.</p>
<p>(Reporting by Michael Perry)</p>
]]></content:encoded>
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		<title>MTN investors fret over ARPU, trim shares</title>
		<link>http://www.reuters.com/article/2011/05/06/mtn-idUSLDE7430YU20110506?feedType=RSS&#038;feedName=everything&#038;virtualBrandChannel=11563</link>
		<comments>http://blogs.reuters.com/gugulourie/2011/05/06/mtn-investors-fret-over-arpu-trim-shares/#comments</comments>
		<pubDate>Fri, 06 May 2011 13:43:45 +0000</pubDate>
		<dc:creator>Gugu Lourie</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/gugulourie/2011/05/06/mtn-investors-fret-over-arpu-trim-shares/</guid>
		<description><![CDATA[JOHANNESBURG, May 6 (Reuters) &#8211; Customers of MTN (MTNJ.J: Quote, Profile, Research, Stock Buzz) spent less on calls in the first quarter, the company said, prompting a 2-percent fall in the shares of Africa&#8217;s largest mobile phone operator. Average revenue per user (ARPU), a key industry measure, was hit by intense competition and currency swings, [...]]]></description>
			<content:encoded><![CDATA[<p>JOHANNESBURG, May 6 (Reuters) &#8211; Customers of MTN (MTNJ.J: <a href="/stocks/quote?symbol=MTNJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=MTNJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=MTNJ.J">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/MTN">Stock Buzz</a>)<br />
spent less on calls in the first quarter, the company said,<br />
prompting a 2-percent fall in the shares of Africa&#8217;s largest<br />
mobile phone operator.</p>
<p> Average revenue per user (ARPU), a key industry measure, was<br />
hit by intense competition and currency swings, falling 10<br />
percent in South Africa and 6 percent in its key Nigeria market.</p>
<p> ARPU in Syria, which has been battered by political unrest,<br />
slid 12 percent and fell 5 percent in Ghana.</p>
<p> &#8220;Increasing competition might be a concern and (there is)<br />
declining ARPU in some markets,&#8221; said a telecoms analyst who<br />
asked not to be identified.</p>
<p> The stronger rand will also mean less of a benefit from<br />
overseas revenues, he said.</p>
<p> MTN said it added more than 5.7 million users in the first<br />
quarter, bringing the group total to 147.3 million, and raised<br />
its 2011 subscriber growth target by 9 percent to 18.4 million.</p>
<p> Shares in MTN were down 2.0 percent at 130.64 rand by 1321<br />
GMT, underperforming Johannesburg&#8217;s Top-40 index <a href="/finance/markets/index?symbol=za%21J200">.JTOPI</a> which<br />
edged up 0.6 percent.</p>
<p> The Africa and Middle East-focused operator, which faces<br />
competition in Nigeria from rivals Bharti Airtel (BRTI.BO: <a href="/stocks/quote?symbol=BRTI.BO">Quote</a>, <a href="/stocks/companyProfile?symbol=BRTI.BO">Profile</a>, <a href="/stocks/researchReports?symbol=BRTI.BO">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/532454">Stock Buzz</a>) and<br />
Etisalat ETEL.AD, operates in several tough markets.</p>
<p> Guinea&#8217;s government has seized assets belonging to MTN and<br />
is taking over the running of the company in a row over payment<br />
of a 15 million euro ($21.80 million) fee. MTN said on Thursday<br />
it was negotiating with that government. [ID:nLDE7441MF]</p>
<p> The South African unit, which competes with its larger rival<br />
Vodacom (VODJ.J: <a href="/stocks/quote?symbol=VODJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=VODJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=VODJ.J">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/VOD">Stock Buzz</a>) and other two smaller operators, recorded a 1.9<br />
percent rise in users to 19.2 million.</p>
<p> (Reporting by Gugulakhe Lourie; editing by David Cowell)</p>
]]></content:encoded>
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		<title>S.Africa&#8217;s PPC down on earnings outlook</title>
		<link>http://www.reuters.com/article/2011/04/20/ppc-idUSLDE73J0E620110420?feedType=RSS&#038;feedName=everything&#038;virtualBrandChannel=11563</link>
		<comments>http://blogs.reuters.com/gugulourie/2011/04/20/s-africas-ppc-down-on-earnings-outlook/#comments</comments>
		<pubDate>Wed, 20 Apr 2011 08:34:44 +0000</pubDate>
		<dc:creator>Gugu Lourie</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/gugulourie/2011/04/20/s-africas-ppc-down-on-earnings-outlook/</guid>
		<description><![CDATA[JOHANNESBURG, April 20 (Reuters) &#8211; Shares in PPC (PPCJ.J: Quote, Profile, Research, Stock Buzz) dropped more than 4 percent in early trade on Wednesday after the earnings forecast for South Africa&#8217;s biggest cement producer disappointed investors. Difficulty in finding new construction projects and tighter private sector spending contributed in PPC forecasting a 35-40 percent decline [...]]]></description>
			<content:encoded><![CDATA[<p>JOHANNESBURG, April 20 (Reuters) &#8211; Shares in PPC (PPCJ.J: <a href="/stocks/quote?symbol=PPCJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=PPCJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=PPCJ.J">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/PPC">Stock Buzz</a>)<br />
dropped more than 4 percent in early trade on Wednesday after<br />
the earnings forecast for South Africa&#8217;s biggest cement producer<br />
disappointed investors.</p>
<p> Difficulty in finding new construction projects and tighter<br />
private sector spending  contributed in PPC forecasting a 35-40<br />
percent decline in first-half initial profit.</p>
<p> &#8220;It&#8217;s a bit of a shocker,&#8221; Abri du Plessis, chief investment<br />
officer at Gryphon Asset Management said. &#8220;I just shows you that<br />
sector is struggling. The construction sector is taking pain.&#8221;</p>
<p> The outlook led its shares to fall by more than 4 percent in<br />
early trade. By 0820 GMT, it was at 24.44 rand, underperforming<br />
a 0.86 percent firmer JSE All-share index <a href="/finance/markets/index?symbol=za%21j203">.JALSH</a>.</p>
<p> Rival Murray &amp; Roberts (MURJ.J: <a href="/stocks/quote?symbol=MURJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=MURJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=MURJ.J">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/MUR">Stock Buzz</a>) rebounded on Wednesday, up<br />
1.36 percent at 25.42 rand, after dropping more than 7 percent<br />
in the last two sessions on industry woes that include suspected<br />
bid rigging.</p>
<p> The stock dropped 5.44 percent to close at 25.01 on Monday<br />
after M&amp;R said executives of its unit Concor Ltd may have<br />
transgressed the Competition Act. [ID:nLDE73H1MY]</p>
<p> Smaller rival Group Five (GRFJ.J: <a href="/stocks/quote?symbol=GRFJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=GRFJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=GRFJ.J">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/GRF">Stock Buzz</a>), which on February 14<br />
posted a 21 percent drop in first-half profit, was slightly up<br />
0.07 percent and Aveng (AEGJ.J: <a href="/stocks/quote?symbol=AEGJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=AEGJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=AEGJ.J">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/AEG">Stock Buzz</a>) was down 0.03 percent.</p>
<p> The JSE construction and materials index  was down<br />
0.89 percent in early trade.</p>
<p> Meanwhile Sephaku Cement, a unit of Sephaku Holdings<br />
(SEPJ.J: <a href="/stocks/quote?symbol=SEPJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=SEPJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=SEPJ.J">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/SEP">Stock Buzz</a>), said on Wednesday it will build a 3,000 tonne per day<br />
clinker and cement plant in South Africa.</p>
<p> &#8220;We remain firmly of the view that the South African growth<br />
story is not yet over, and that it has legs deep into the<br />
future,&#8221; Sephaku managing director Pieter Fourie said.<br />
 (Editing by <a href="http://blogs.reuters.com/search/journalist.php?edition=us&amp;n=jon.herskovitz&amp;">Jon Herskovitz</a>)</p>
]]></content:encoded>
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		<title>Kansai accepts conditions on Freeworld buy</title>
		<link>http://www.reuters.com/article/2011/04/19/us-kansai-freeworld-idUSTRE73I56B20110419?feedType=RSS&#038;feedName=everything&#038;virtualBrandChannel=11563</link>
		<comments>http://blogs.reuters.com/gugulourie/2011/04/19/kansai-accepts-conditions-on-freeworld-buy/#comments</comments>
		<pubDate>Tue, 19 Apr 2011 17:16:04 +0000</pubDate>
		<dc:creator>Gugu Lourie</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/gugulourie/2011/04/19/kansai-accepts-conditions-on-freeworld-buy/</guid>
		<description><![CDATA[JOHANNESBURG (Reuters) &#8211; Japan&#8217;s Kansai Paint will sell a unit, build a new plant and agree to preserve jobs to secure regulatory approval for its $260 million hostile bid for South Africa&#8217;s Freeworld Coatings. South Africa&#8217;s competition regulator said on Tuesday it attached conditions that include a requirement from Kansai to sell Freeworld&#8217;s automotive coatings [...]]]></description>
			<content:encoded><![CDATA[<p>JOHANNESBURG (Reuters) &#8211; Japan&#8217;s Kansai Paint</p>
<p>will sell a unit, build a new plant and agree to preserve jobs to secure regulatory approval for its $260 million hostile bid for South Africa&#8217;s Freeworld Coatings.</p>
<p>South Africa&#8217;s competition regulator said on Tuesday it attached conditions that include a requirement from Kansai to sell Freeworld&#8217;s automotive coatings business, which includes its shareholding in a joint venture with U.S. chemical giant DuPont.</p>
<p>&#8220;To the extent that the conditions may result in a material adverse change to Freeworld, Kansai has elected to accept such conditions for the purpose of implementing Kansai&#8217;s offer,&#8221; the Osaka-based company said.</p>
<p>Other conditions include a freeze on job cuts for the next three years and a call for Kansai to build an auto coatings manufacturing plant in the country.</p>
<p>The Competition Commission also wants it to sell a stake to black investors within two years as part of the government&#8217;s policy to widen ownership in Africa&#8217;s biggest economy.</p>
<p>MANUFACTURING CAPACITY</p>
<p>Commissioner Shan Ramburuth said that &#8220;collectively, these conditions address any anti-competitive harm that would have resulted from the merger and would ultimately increase South Africa&#8217;s manufacturing capacity in the paint market.&#8221;</p>
<p>Freeworld&#8217;s board, which can appeal the decision, will meet before the end of this week to discuss the decision.</p>
<p>But Kansai, which effectively owns 90 percent of Freeworld, said it would implement the deal immediately and pay Freeworld&#8217;s shareholders the offered 12 rand per share within seven calendar days.</p>
<p>The deal gives Kansai, one of the world&#8217;s largest paint firms, a substantial presence in South Africa and paves the way for expansion in the African continent.</p>
<p>&#8220;Kansai views Freeworld as a platform for further development in South Africa and Africa,&#8221; its chairman Shoju Kobayashi said in a statement.</p>
<p>With a moribund economy and aging population at home, many Japanese firms, which have historically focused on emerging markets in Asia, are anxious to find new growth overseas.</p>
<p>(Editing by Will Waterman)</p>
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		<title>SAfrica&#8217;s Telkom sells part of Multi-Links</title>
		<link>http://uk.reuters.com/article/2011/04/01/telkom-idUKLDE7301EG20110401?feedType=RSS&#038;feedName=everything&#038;virtualBrandChannel=11708</link>
		<comments>http://blogs.reuters.com/gugulourie/2011/04/01/safricas-telkom-sells-part-of-multi-links/#comments</comments>
		<pubDate>Fri, 01 Apr 2011 14:27:21 +0000</pubDate>
		<dc:creator>Gugu Lourie</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/gugulourie/2011/04/01/safricas-telkom-sells-part-of-multi-links/</guid>
		<description><![CDATA[JOHANNESBURG, April 1 (Reuters) &#8211; Africa&#8217;s largest telephone group Telkom (TKGJ.J: Quote, Profile, Research) is selling part of its loss-making Multi-Links operation in Nigeria for $52 million to Visafone Communications, sending its shares higher. South Africa-based Telkom paid $330 million three years ago for the Nigerian business which posted an operating loss of 262 million [...]]]></description>
			<content:encoded><![CDATA[<p>JOHANNESBURG, April 1 (Reuters) &#8211; Africa&#8217;s largest telephone<br />
group Telkom (TKGJ.J: <a href="/stocks/quote?symbol=TKGJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=TKGJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=TKGJ.J">Research</a>) is selling part of its loss-making<br />
Multi-Links operation in Nigeria for $52 million to Visafone<br />
Communications, sending its shares higher.</p>
<p> South Africa-based Telkom paid $330 million three years ago<br />
for the Nigerian business which posted an operating loss of 262<br />
million rand ($37.42 million) in the six months to<br />
end-September.</p>
<p> Telkom said on Friday it will retain Multi-Links&#8217; fibre<br />
network and fixed-line units in Nigeria.</p>
<p> &#8220;The prospects of (Telkom) growth are much better now that<br />
they have shed the luggage,&#8221; said Dobek Pater, a telecoms<br />
analyst at Africa Analysis.</p>
<p> &#8220;The upside for Telkom looked more rosier and that&#8217;s why the<br />
share price is reacting positively.&#8221;</p>
<p>  Shares in Telkom, valued at about 20 billion rand, rose<br />
2.24 percent to 37.83 rand by 1420 GMT, outpacing a flat JSE<br />
Top-40 index <a href="/business/markets/index?symbol=za%21J200">.JTOPI</a>.</p>
<p> Asked about the price paid by Visafone, Pater said: &#8220;I think<br />
overall (Telkom) are selling from a back foot position, because<br />
they are taking quite a knock in this transaction in relation to<br />
the premium they paid when buying this business.&#8221;</p>
<p> Telkom said Visafone, established by Jim Ovia, the<br />
co-founder of Nigeria&#8217;s Zenith Bank Plc (ZENITHB.LG: <a href="/stocks/quote?symbol=ZENITHB.LG">Quote</a>, <a href="/stocks/companyProfile?symbol=ZENITHB.LG">Profile</a>, <a href="/stocks/researchReports?symbol=ZENITHB.LG">Research</a>), will pay<br />
for the mobile unit via a number of transaction steps.</p>
<p> The unit is one of four mobile operators using the CDMA<br />
technology platform in a market dominated by the rival GSM<br />
standard and has been struggling in recent years.</p>
<p> Multi-Links&#8217; CDMA business had 1.9 million users in the six<br />
months to end-September, down 8.4 percent.<br />
 (Reporting by Gugulakhe Lourie; Editing by David Cowell)</p>
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		<title>S.African M&amp;R&#8217;s new CEO plans to overhaul finances</title>
		<link>http://www.reuters.com/article/2011/03/31/murrayandroberts-idUSLDE72T1H520110331?feedType=RSS&#038;feedName=everything&#038;virtualBrandChannel=11563</link>
		<comments>http://blogs.reuters.com/gugulourie/2011/03/31/s-african-mrs-new-ceo-plans-to-overhaul-finances/#comments</comments>
		<pubDate>Thu, 31 Mar 2011 16:40:37 +0000</pubDate>
		<dc:creator>Gugu Lourie</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/gugulourie/2011/03/31/s-african-mrs-new-ceo-plans-to-overhaul-finances/</guid>
		<description><![CDATA[JOHANNESBURG, March 31 (Reuters) &#8211; The newly appointed head of South African builder Murray &#38; Roberts (M&#38;R) (MURJ.J: Quote, Profile, Research, Stock Buzz) said his priority was to improve the group&#8217;s finances as it battles with an industry-wide slump. &#8220;The immediate focus will be to improve the liquidity position of the group,&#8221; said Henry Laas, [...]]]></description>
			<content:encoded><![CDATA[<p>JOHANNESBURG, March 31 (Reuters) &#8211; The newly appointed head<br />
of South African builder Murray &amp; Roberts (M&amp;R) (MURJ.J: <a href="/stocks/quote?symbol=MURJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=MURJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=MURJ.J">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/MUR">Stock Buzz</a>) said<br />
his priority was to improve the group&#8217;s finances as it battles<br />
with an industry-wide slump.</p>
<p> &#8220;The immediate focus will be to improve the liquidity<br />
position of the group,&#8221; said Henry Laas, an engineer who will<br />
replace Brian Bruceas as the company&#8217;s chief executive.</p>
<p> One way to do this was to resolve outstanding commercial<br />
disputes and sell-off &#8220;discontinued operations&#8221; by June 2012,<br />
Laas said on a conference call.</p>
<p> Last month, M&amp;R fell to a half-year loss, hit by a $111<br />
million writedown. The industry has been in a slump since 2010<br />
World Cup related projects dried up.</p>
<p> The South African construction industry, which avoided the<br />
worst of the global economic crisis due to big World Cup<br />
projects, is now having difficulty finding new projects as the<br />
government and private sector hold back on spending.</p>
<p> M&amp;R, South Africa&#8217;s second-biggest building firm by market<br />
value, is yet to appoint a successor to financial director Roger<br />
Rees, who is also retiring at the end of June.</p>
<p> Chairman Roy Andersen said Laas would develop a new<br />
management team, including the selection of Rees&#8217; replacement.</p>
<p> Construction companies are also the target of a bid-rigging<br />
probe by South Africa&#8217;s competition watchdog, which has put<br />
further pressure on share prices.</p>
<p> When asked whether the departing executives were implicated<br />
in any way in the bid rigging, Andersen said the resignation and<br />
retirement of Bruce and Rees had nothing to do with the probe.</p>
<p> &#8220;I am not aware of their involvement at all and that&#8217;s<br />
categorical,&#8221; Andersen said.</p>
<p> &#8220;In fact, Bruce has been the champion doing the forensics<br />
throughout the group to make sure that anything we might be<br />
concerned about is in fact revealed. So, I will be very<br />
surprised if their names appear in any form.&#8221;</p>
<p>  Shares in M&amp;R closed 0.79 percent lower at 26.54 rand.</p>
<p> (Reporting by Gugulakhe Lourie; Editing by Elaine<br />
Hardcastle)</p>
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		<title>South Africa wants Freeworld takeover blocked</title>
		<link>http://www.reuters.com/article/2011/03/31/freeworld-kansai-idUSLDE72U1MR20110331?feedType=RSS&#038;feedName=everything&#038;virtualBrandChannel=11563</link>
		<comments>http://blogs.reuters.com/gugulourie/2011/03/31/south-africa-wants-freeworld-takeover-blocked/#comments</comments>
		<pubDate>Thu, 31 Mar 2011 12:58:20 +0000</pubDate>
		<dc:creator>Gugu Lourie</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/gugulourie/2011/03/31/south-africa-wants-freeworld-takeover-blocked/</guid>
		<description><![CDATA[JOHANNESBURG, March 31 (Reuters) &#8211; South Africa wants the country&#8217;s competition watchdog to block the hostile takeover of Freeworld Coatings (FWDJ.J: Quote, Profile, Research, Stock Buzz) by Japanese group Kansai Paint (4613.T: Quote, Profile, Research, Stock Buzz). The Department of Trade and Industry said it was worried the takeover would cut competition, especially in the [...]]]></description>
			<content:encoded><![CDATA[<p>JOHANNESBURG, March 31 (Reuters) &#8211; South Africa wants the<br />
country&#8217;s competition watchdog to block the hostile takeover of<br />
Freeworld Coatings (FWDJ.J: <a href="/stocks/quote?symbol=FWDJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=FWDJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=FWDJ.J">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/FWD">Stock Buzz</a>) by Japanese group Kansai Paint<br />
(4613.T: <a href="/stocks/quote?symbol=4613.T">Quote</a>, <a href="/stocks/companyProfile?symbol=4613.T">Profile</a>, <a href="/stocks/researchReports?symbol=4613.T">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/4613">Stock Buzz</a>).</p>
<p> The Department of Trade and Industry said it was worried the<br />
takeover would cut competition, especially in the vehicle paint<br />
sector, and wanted competition authorities to impose conditions.</p>
<p> Nauman Malik, Kansai&#8217;s global head of strategy, said in a<br />
statement on Thursday the company might be open to &#8220;appropriate<br />
conditions&#8221;.</p>
<p> Freeworld shares were flat at 11.50 rand.</p>
<p> Kansai, which owns more than 90 percent of the South African<br />
paint company, is waiting for approval from competition<br />
authorities to complete its takeover. The competition commission<br />
was expected to give a final decision on April 18.</p>
<p> In the meantime, Freeworld adjourned its annual general<br />
meeting until April 28 to await the outcome.</p>
<p> While Freeworld shareholders were expected to vote on the<br />
Kansai deal, the board has been advised this &#8220;may constitute<br />
prior implementation of the proposed transaction&#8221; and could lead<br />
to substantial fines for it an Kansai.</p>
<p> Freeworld chairman Bobby Godsell said the company would<br />
convene a meeting with Kansai after the commission&#8217;s ruling and<br />
before the AGM was resumed, to ensure fullest participation of<br />
all shareholders.</p>
<p> Malik said Kansai was &#8220;very disappointed and surprised at<br />
the adjournment of the AGM.&#8221; Kansai said last month it planned<br />
to keep Freeworld listed. The Johannesburg Stock Exchange<br />
(JSEJ.J: <a href="/stocks/quote?symbol=JSEJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=JSEJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=JSEJ.J">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/JSE">Stock Buzz</a>) normally requires a minimum free-float of 20 percent,<br />
meaning Kansai may have to cut its stake.</p>
<p> U.S. retailer Wal-Mart (WMT.N: <a href="/stocks/quote?symbol=WMT.N">Quote</a>, <a href="/stocks/companyProfile?symbol=WMT.N">Profile</a>, <a href="/stocks/researchReports?symbol=WMT.N">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/WMT">Stock Buzz</a>), which is in the process of<br />
buying local retailer Massmart (MSMJ.J: <a href="/stocks/quote?symbol=MSMJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=MSMJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=MSMJ.J">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/MSM">Stock Buzz</a>), is facing similar<br />
challenges from the DTI, which wants the deal blocked or<br />
subjected to conditions.<br />
 (Reporting by Gugulakhe Lourie; Editing by <a href="http://blogs.reuters.com/search/journalist.php?edition=us&amp;n=ed.cropley&amp;">Ed Cropley</a> and Dan<br />
Lalor)</p>
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		<title>Jones Lang LaSalle buys S.African property firm</title>
		<link>http://www.reuters.com/article/2011/03/31/joneslanglasalle-idUSLDE72T0YN20110331?feedType=RSS&#038;feedName=everything&#038;virtualBrandChannel=11563</link>
		<comments>http://blogs.reuters.com/gugulourie/2011/03/31/jones-lang-lasalle-buys-s-african-property-firm/#comments</comments>
		<pubDate>Thu, 31 Mar 2011 10:32:24 +0000</pubDate>
		<dc:creator>Gugu Lourie</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/gugulourie/2011/03/31/jones-lang-lasalle-buys-s-african-property-firm/</guid>
		<description><![CDATA[JOHANNESBURG, March 31 (Reuters) &#8211; Jones Lang LaSalle (JLL.N: Quote, Profile, Research, Stock Buzz), one of the world&#8217;s largest real estate services companies, is buying a South African rival for an undisclosed amount, its first step into the fast-growing continent. The U.S. real estate group said on Thursday that the acquisition of unlisted Bradford McCormack [...]]]></description>
			<content:encoded><![CDATA[<p>JOHANNESBURG, March 31 (Reuters) &#8211; Jones Lang LaSalle<br />
(JLL.N: <a href="/stocks/quote?symbol=JLL.N">Quote</a>, <a href="/stocks/companyProfile?symbol=JLL.N">Profile</a>, <a href="/stocks/researchReports?symbol=JLL.N">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/JLL">Stock Buzz</a>), one of the world&#8217;s largest real estate services<br />
companies, is buying a South African rival for an undisclosed<br />
amount, its first step into the fast-growing continent.</p>
<p> The U.S. real estate group said on Thursday that the<br />
acquisition of unlisted Bradford McCormack &amp; Associates (BMA)<br />
provided a springboard for further expansion in South Africa and<br />
the region.</p>
<p> &#8220;The deal opens up accelerated business growth opportunities<br />
for both firms across South Africa and its neighbouring<br />
countries,&#8221; the company said in a statement.</p>
<p> BMA&#8217;s local clients include South Africa&#8217;s biggest bank,<br />
ABSA ABSJ.J, global confectionery giant Nestle (NESN.VX: <a href="/stocks/quote?symbol=NESN.VX">Quote</a>, <a href="/stocks/companyProfile?symbol=NESN.VX">Profile</a>, <a href="/stocks/researchReports?symbol=NESN.VX">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/NESN">Stock Buzz</a>), the<br />
Johannesburg Stock Exchange (JSEJ.J: <a href="/stocks/quote?symbol=JSEJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=JSEJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=JSEJ.J">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/JSE">Stock Buzz</a>) and several government<br />
departments.</p>
<p> Jones Lang LaSalle is the third major U.S.-based company in<br />
recent months to have shown interest in sub-Saharan Africa&#8217;s<br />
fast-growing markets.</p>
<p> Last week, Washington D.C.-based private equity group<br />
Carlyle [CYL.UL] said it planned to open offices in Johannesburg<br />
and Lagos and start investing in capital growth ventures and<br />
buyouts in the region. [ID:nLDE72N05U]</p>
<p> U.S. retailer Wal-Mart Stores (WMT.N: <a href="/stocks/quote?symbol=WMT.N">Quote</a>, <a href="/stocks/companyProfile?symbol=WMT.N">Profile</a>, <a href="/stocks/researchReports?symbol=WMT.N">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/WMT">Stock Buzz</a>) is in the middle of<br />
buying a controlling stake in South African retailer Massmart<br />
(MSMJ.J: <a href="/stocks/quote?symbol=MSMJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=MSMJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=MSMJ.J">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/MSM">Stock Buzz</a>) for $2.3 billion, though it is having problems<br />
convincing competition authorities. [ID:nLDE72R1OO]</p>
<p> Jones Lang LaSalle will compete in South Africa with<br />
Growthpoint Properties (GRTJ.J: <a href="/stocks/quote?symbol=GRTJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=GRTJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=GRTJ.J">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/GRT">Stock Buzz</a>), the country&#8217;s largest listed<br />
property firm, and Redefine Properties (RDFJ.J: <a href="/stocks/quote?symbol=RDFJ.J">Quote</a>, <a href="/stocks/companyProfile?symbol=RDFJ.J">Profile</a>, <a href="/stocks/researchReports?symbol=RDFJ.J">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/RDF">Stock Buzz</a>).</p>
<p> Earlier this month, a survey by property consultant DTZ<br />
(DTZ.L: <a href="/stocks/quote?symbol=DTZ.L">Quote</a>, <a href="/stocks/companyProfile?symbol=DTZ.L">Profile</a>, <a href="/stocks/researchReports?symbol=DTZ.L">Research</a>, <a href="http://reuters.socialpicks.com/stock/r/DTZ">Stock Buzz</a>) found the amount of new capital available for investment<br />
in global real estate was $329 billion, up 17 percent from a<br />
mid-2010 projection. [ID:nLDE728294]</p>
<p> Capital earmarked for direct investment in the Americas rose<br />
14 percent to $111 billion, while in Europe, the Middle East and<br />
Africa (EMEA) the pot was up just 2 percent to $114 billion.<br />
 (Reporting by Gugulakhe Lourie, Editing by Ed Cropley and Will<br />
Waterman)</p>
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