BLACK economic empowerment group African Renaissance Holdings said it had bought a 25% stake in Marconi Plc’s local subsidiary for R130m. African Renaissance said it had an option to increase its investment in Marconi Communications South Africa to 30% within 12 months, depending on predetermined performance criteria. ”The partnership completes our investment strategy in becoming one of the leading players in the new economy and it harnesses synergistic business growth prospects for our IT, hospitality and leisure, and telecommunications underlying investments,” said CEO Gavin Pieterse. – Reuters