Company Data
| Last traded |
R25.00 |
| Change |
R-0.06 |
| % Change |
-0.24% |
| Cumulative volume |
12.14m |
| Market cap |
R140.95bn |
Related Articles
Top Stories
May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
May 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, says governor Gill Marcus.
Johannesburg - FirstRand [JSE: FSR] said on Friday it had received formal notification from Zambia's central bank over the termination of a $5.4m deal to acquire Finance Bank and would comply with the directive.
"FNB has agreed to this request, and provided the process is within Zambian law, we will continue to engage with BOZ (Bank of Zambia)," it said.
The central bank seized Finance Bank from its shareholders in 2010 for legal violations, including questionable loans. Finance Bank's chairperson has said the seizure was politically motivated.
The Bank of Zambia said in a statement that Finance Bank had been
handed back to previous shareholders as of Friday, and would continue normal
operations.
Since his upset September 20 election victory, former opposition head
Sata has fired the central bank governor and a host of other bureaucrats,
reversed another foreign takeover and temporarily suspended mineral exports.
Some of the moves have caused jitters among investors in Africa’s
biggest copper producer, including mining companies his Patriotic Front party
accuses of dodging taxes by under-declaring the amount of ore they are shipping
out of Zambia.