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Basil Read. REACHING FOR A RESCUER.
(From Financial Mail)
Byline: Sibonelo Radebe
Basil Read REACHING FOR A RESCUER French construction giant Bouygues has again reshuffled the executive management and board of struggling local subsidiary Basil Read, amid talk that the French are flirting with mining magnate Mzi Khumalo.
Khumalo could help end Bouygues' long search for a black economic empowerment (BEE) partner. Bouygues holds 70% of Basil Read shares. Talks between Bouygues and the Chavda empowerment consortium, led by former Basil Read employee Mervyn Chavda, collapsed last month.
Bouygues and Basil Read will not deny or confirm the Khumalo speculation; Khumalo could not be …
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