ARM sells stake on teal

Mining exploration company Teal's share price jumped more than fivefold from R3,80 to R20 after minorities were offered Canadian $3 per share. Teal is 65percent owned by African Rainbow Minerals. The proposed deal would see ARM reduce its stake to 50percent while Brazil's Vale buys the other half. At yesterday's exchange rate of R8,24 per Canadian dollar, the offer translated into R24,77 per share. - Robert Laing

Mining exploration company Teal's share price jumped more than fivefold from R3,80 to R20 after minorities were offered Canadian $3 per share. Teal is 65percent owned by African Rainbow Minerals. The proposed deal would see ARM reduce its stake to 50percent while Brazil's Vale buys the other half. At yesterday's exchange rate of R8,24 per Canadian dollar, the offer translated into R24,77 per share. - Robert Laing

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