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General Category => Shares => Topic started by: Moonraker on November 18, 2015, 05:19:32 pm

Title: Vodacom sued for $14bn in Democratic Republic of Congo
Post by: Moonraker on November 18, 2015, 05:19:32 pm

Vodacom sued for $14bn in Democratic Republic of Congo (http://www.moneyweb.co.za/news/companies-and-deals/vodacom-sued-for-14bn-in-democratic-republic-of-congo/)

Quote

The claim relates to allegations by Conteh that Johannesburg-based Vodacom helped to undermine the businessman’s position as a statutory director of Congolese Wireless Network, which owns a 49% stake in Vodacom Congo. Conteh’s action in the Commercial Court of Kinshasa/Gombe also seeks to overturn a court decision stripping him of that position and to liquidate the Vodacom unit.

MTN - now VOD.  :o

Title: Re: Vodacom sued for $14bn in Democratic Republic of Congo
Post by: jaDEB on November 18, 2015, 05:53:59 pm

Thanks, it seems that you do not invest in Companies that do business in Africa. As they are looking at ways to make up monies for low commodities.

Title: Re: Vodacom sued for $14bn in Democratic Republic of Congo
Post by: Moonraker on November 18, 2015, 05:57:38 pm

Quote from: jaDEB on November 18, 2015, 05:53:59 pm

Thanks, it seems that you do not invest in Companies that do business in Africa. As they are looking at ways to make up monies for low commodities.

That's right JaDEB. Who's gonna be next ?

Title: Re: Vodacom sued for $14bn in Democratic Republic of Congo
Post by: Hamster on November 19, 2015, 05:43:31 am

Quote from: Moonraker on November 18, 2015, 05:57:38 pm

Quote from: jaDEB on November 18, 2015, 05:53:59 pm

Thanks, it seems that you do not invest in Companies that do business in Africa. As they are looking at ways to make up monies for low commodities.

That's right JaDEB. Who's gonna be next ?

Shopright :eek:

Title: Re: Vodacom sued for $14bn in Democratic Republic of Congo
Post by: Moonraker on November 19, 2015, 10:23:17 am

A little more on this ..

'Disgruntled manager' sues Vodacom DRC for R200bn (http://www.fin24.com/Tech/Mobile/disgruntled-manager-sues-vodacom-drc-for-r200bn-20151119)

Title: Re: Vodacom sued for $14bn in Democratic Republic of Congo
Post by: candle-stick-surfer on November 19, 2015, 12:12:20 pm

Why is this not reflecting in the share price the same way MTN did?

Is it because:
- the claim is coming from a shareholder and not the authorities?
- the claim is seen as unsubstantiated?
- The issues has been going on for quite some time already?

or will it reflect in the share price once more information is provided and a sens announcement is made? Based on the fact that their is no sens announcement, there is no need for concern?

I guess my questions are:
- do you think this claim holds any weight?
- Will investors lose confidence?
- How will this impact on the share price?

Title: Re: Vodacom sued for $14bn in Democratic Republic of Congo
Post by: jaDEB on November 19, 2015, 12:22:18 pm

Me thinks : -

the claim is seen as unsubstantiated

Title: Re: Vodacom sued for $14bn in Democratic Republic of Congo
Post by: Moonraker on November 19, 2015, 01:16:15 pm

Quote from: jaDEB on November 19, 2015, 12:22:18 pm

Me thinks : -

the claim is seen as unsubstantiated

Correct.