Sell state’s Gupta-shares immediately to save taxpayers money, FF Plus says
11 April 2016
The price of shares in the Gupta’s company, Oakbay, is being kept artificially high, and the state must sell its shares in the company immediately before the price falls, and large losses are experienced, Adv. Anton Alberts, the FF Plus’ parliamentary spokesperson on Trade and Industry, says.
According to Adv. Alberts the state has shares in Oakbay via the Industrial Development Corporation (IDC), to the value of R256 million.
Oakbay was recently in the news when ABSA, FNB and the auditors firm KPMG had turned their backs on the company in fear of possible political contamination and/or corruption.
According to a report in today’s Business Day, Oakbay is currently totally over-valued, and its share price is in the interim being kept artificially high, to the advantage of the Guptas.