No it is new, not the change to 30% but the fact that they cannot divest the entire share holding unless it is taken over by local investors and at least 30% needs to be retained by the majority in SA. This is new, currently as long as they have held 26% at some point they can sell it to zero. Under the proposed legislation this isn't possible.
Decision will be made by majority shareholders yes, one of them now can't sell their entire stake to zero unless they have a local black empowerment company take over the stake. This has not been the case to date
I'm more than happy for others to tell me how this may play out which is why I raised it.
Tshipi bidders narrowed down as 2nd round approaches, page-10
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