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March 13, 2008

Outcry over Bhisho's sale of shares in bank

BLACK businessmen yesterday criticised the Eastern Cape government for selling its shares in Meeg Bank to Absa, saying it was against the country's black economic empowerment (BEE) policies.

The outcry followed a story in the Daily Dispatch on Tuesday, when it was revealed that Meeg Bank was fighting a "hostile takeover" from banking giant Absa after the Eastern Cape Treasury backtracked on an earlier promise to help retain Meeg Bank's BEE status.

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Posted by StaffWriter at March 13, 2008 8:12 AM