Collapsed Takatso - SAA deal epitomizes pitfalls of saving ailing SOE's
Public Enterprises Minister Pravin Gordhan , this week , announced that the sale of a 51% stake in South African Airways to the Takatso Consortium has been cancelled. Addressing the media after the Parliament's Public Enterprises Portfolio Committee meeting, Gordhan said there was agreement that by mutual consent that the transaction should be terminated as there is no clear path forward. This comes almost three years after the consortium was announced as the preferred bidder to acquire the airline. Meanwhile , Cabinet says it supports the termination of SAA's partnership with the Takatso Consortium saying it had to prioritise the fair value, and ensure that the public interest is served. To look at why and how the SAA-Takatso deal fell apart Bongiwe Zwane spoke to Independent Analyst, Khaya Sithole and Chris Hattingh, Executive Director at the Centre For Risk Analysis (CRA).
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