Word: stakings
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...Kenyan government is in for a windfall. The government owns 60% of Safaricom, and 25% of that stake is up for sale. With Safaricom shares starting at seven U.S. cents, that means the government could make 50 billion shillings - about $780 million - on the sale...
...most corrupt nations on Earth, the Safaricom offering has raised the suspicions of the country's business bloggers. The Kenyan opposition says the sale violates Kenyan privatization laws. And they're worry that other powerful Kenyans may be behind a Guernsey-based company called Mobitelea, which owns a stake in Vodafone Kenya, which in turn owns 40% of Safaricom. Of these allegations, Michael Joseph, the CEO of Safaricom, told the Daily Nation, "I hope they do not detract potential investors from investing in a very strong company with strong growth prospects." Joseph said that confidentiality agreements prevent him from revealing...
With a name like the Witchery, Edinburgh's finest restaurant could be expected to capitalize on ghoulish camp. Instead, it oozes romance. Sure, the 16th century building, near Edinburgh Castle, has a macabre history: hundreds of suspected witches were burned at the stake here in the 1600s. But their spirits have been exorcized and now the most haunting thing about the place is its gothic elegance...
...like philanthropy, but Mitchell and Philipson insist this is capitalism. For now, Canopy will pay simply to protect Iwokrama's ecosystem services, but in the future it's wagering that the world will get desperate enough to limit climate change - and deforestation - that it will pay Canopy for its stake. "The fundamental difference here is that we hope to make money out of it," says Philipson. "We need to engage the power of the market here. We're hoping to buy low and sell high...
...mining company, be Chinese? Observers say it's possible, given high metals prices and China's untapped reserves. But listed domestic miners have ambitions beyond China's borders. Zijin, China's leading gold miner, last year purchased a company with gold-mining and exploration rights in Tajikistan and a stake in a Philippine gold and copper project. Zijin also led a consortium that bought a majority stake in London-listed Monterrico Metals, which owns a copper and molybdenum project in Peru. "All the big mining groups started this way," says Atherley, the Australian mining-company executive. "They get a good...