'Besa is worth much more'

The New Zealand Stock Exchange (NZX) has objected to the JSE's bid for the Bond Exchange of South Africa, saying the bid is too low. The JSE last month made a conditional offer to buy the Bond Exchange for R173,22million. Yesterday, the NZX, which bought 22percent of Besa's shares a month ago, said the JSE's offer of R90 a share was "not a true reflection of Besa's current, or likely, future value". - Tamlyn Stewart

The New Zealand Stock Exchange (NZX) has objected to the JSE's bid for the Bond Exchange of South Africa, saying the bid is too low. The JSE last month made a conditional offer to buy the Bond Exchange for R173,22million. Yesterday, the NZX, which bought 22percent of Besa's shares a month ago, said the JSE's offer of R90 a share was "not a true reflection of Besa's current, or likely, future value". - Tamlyn Stewart

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