S.Africa's NAIL receives bid from black-led groups

Newswire

JOHANNESBURG, July 24 (Reuters) - South African media group New Africa Investments Ltd (NAIL> said on Thursday it had received an unsolicited 9.0 rand a share cash takeover bid from a consortium including its chief executive Saki Macozoma. The black-led firm, which also has interests in financial services and car rental, said the consortium had made a firm intention to acquire 100 percent of NAIL's issued shares. The consortium comprises Investec Bank Ltd , Tiso Group Ltd, Macozoma's ...

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