TUESDAY, 10.30AM
JOHANNESBURG Consolidated Investments’ discussions on a potential merger with international mining giant Lonrho are under threat after local mining houses Avmin and Gencor took an active interest in acquiring a stake in Lonrho.
Avmin has declined to comment on the report, and Gencor’s directors are overseas. It is believed Avmin is about to make an offer for the Lonrho stake, while Gencor is weighing up the pros and cons of a merger. Gencor has in the past been refused permission by the European Union to merge its platinum interests with those of Lonrho.
TUESDAY, 8.30AM
THE JCI share price, which had slipped in recent months, gained 60c yesteday on news of the potential merger with Lonrho. But the issue was clouded by reports that both Gencor and Anglo Vaal mining are also potential suitors to link up with Lonrho. Gencor last year attempted to merge its platinum interests with Lonrho, but was turned down by the European Union.