Guptas blame cruel media treatment for business exit

News24
30 Aug 2016, 22:01 GMT+10

London - The Gupta family, owners of Oakbay Investments and friends of President Jacob Zuma, have been subjected to "cruel and harsh" treatment from the media in the country, contributing to the decision to sell their local businesses, the company's chief executive officer said.

There has been tangible interest from a potential international buyer for the assets, Oakbay CEO Nazeem Howa said in an interview on Bloomberg TV.

"There's never a right time to sell a business, but we've had some interest from some international parties,amp;" Howa said. "We'd be crazy to close our eyes just to one party, so we will consider other offers as well.amp;"

The family made the surprise announcement on August 27 that it will exit all its interests in South Africa by the end of the year. Zuma, who has described the Guptas as friends while denying that they wield political influence, is facing a public backlash over a police investigation into Finance Minister Pravin Gordhan.

Oakbay Investments owns 80% of Oakbay Resources amp;amp; Energy [JSE:ORL], a gold and coal mining company listed on the Johannesburg Stock Exchange.

Other businesses include closely held Sahara Computers, a heavy-equipment supplier, a safari lodge, a television news channel and a national newspaper.

Read Fin24's top stories trending on Twitter:

Fin24's top stories

Source: News24

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Irish Sun.

More Information

2 ℃

Partly Cloudy in Dublin

International

Section

Dozens feared dead after boat capsizes off Florida

FORT PIERCE, Florida: The U.S. Coast Guard is searching the waters off eastern Florida, with hopes of saving 39 missing ...

Thailand decriminalizes marijuana, unclear about recreational use

BANGKOK, Thailand: In a landmark move, Thailand, on January 25, emerged as the first Asian nation to decriminalize the use ...

China again sends warplanes to Taiwan; US aircraft carriers enter area

TAIPEI, Taiwan: In its largest sortie in 2022, China sent 39 warplanes towards Taiwan on January 24, amidst tensions over ...

France appears to ensure Djokovic plays in French Open under new rules

PARIS, France: Under the latest COVID-19 rules adopted by the French government, leading tennis player Novak Djokovic could be allowed ...

Lack of in-class learning blamed for drop in US high school graduates

WASHINGTON D.C.: The percentage of students graduating from U.S. high schools in 2021 plummeted in twenty states due to Covid ...

Researchers: Shark attacks increase after 3 years of decline

GAINESVILLE, Florida: Shark attacks soared worldwide in 2021.Research conducted by the Florida Museum of Natural History and the American Elasmobranch ...

Europe

Section