In a very curious deal, Astoria Investments is part of a consortium that's buying CNA from Edcon. They haven't put a price on the transaction and Astoria didn't issue a SENS announcement, implying that it won't be spending more than 5% of its market capitalisation of about R285 million on the deal. Still, the shift from global investor to local retailer is slightly puzzling. The good news is that Edcon says jobs won't be lost and the buyers plan to take CNA back to its roots as a seller of books, stationary, magazines and gifts. Read on for more on that story, as well as Vodacom's plans to launch 5G in South Africa this year and a possible rights issue from Invicta. Meanwhile, it looks like City Lodge is still battling to get enough tourists and business travellers in its beds, with a warning of weaker first-half earnings. The news sent its shares lower yesterday. Investors welcomed Glencore's full-year production report, however, sending its stock higher. Although copper output was down last year, cobalt production rose as its Katanga mine in the DRC ramped up operations. Finally, we take a look at how you can minimise your capital gains tax liabilities using Section 12J investments. If you received Prosus shares as part of Naspers's unbundling of its international assets, it's worth taking a look. I hope you have a good day. Stephen Gunnion Managing Editor, InceConnect |