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The Presidency has decried the emerging narrative around BHP's R740-billion bid for Anglo American, which calls into question South Africa's desirability as an investment destination.
"Some analysts and sections of the media have sought to portray this market activity as a vote of no confidence in South Africa. The Presidency rejects the notion that a commercial approach by BHP Billiton equals to a hostile environment for investors," the Presidency said in a statement on Monday.
The proposed deal – which has already been rebuffed by Anglo's board and has likely sent BHP back to the drawing board – required the company to first spin off its South African platinum and iron ore businesses before BHP would acquire it.
