October 25, 2018 / 12:30 PM / a year ago

S.Africa finance minister doubts SAA will find equity partner in current state

CAPE TOWN, Oct 25 (Reuters) - South African Finance Minister Tito Mboweni said on Thursday that he doubted that the government would find an investor to take an equity stake in struggling state-run South African Airways (SAA) in its current financial state.

“I doubt you are going to find an equity partner who will come into SAA in this current state. As an equity partner you’d have to immediately assume debt of some 21 billion rand ($1.5 billion),” Mboweni told lawmakers, a day after giving a bleak medium-term budget speech which rattled South African markets.

$1 = 14.4873 rand Reporting by Mfuneko Toyana Writing by Alexander Winning Editing by James Macharia

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