Tiso Group Firms Nail Foothold.

(From Moneyweb (South Africa) - AAGM)

Byline: Belinda Anderson

News that the urgent Competition Tribunal hearing into the Tiso Consortium's bid for Nail had been postponed for a day coincided with confirmation from the Consortium that it had managed to increase its stake in the media group even further.

The Kagiso Consortium hopes to prevent the Tiso Consortium from implementing its offer by lodging complaints with the various regulatory bodies. But, in the meantime, as one fund manager (who shall remain unnamed) whose institution had just sold its stake in Nail said: "Shareholders are voting with their feet".

BJM's David Shapiro said the …