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Gupta-owned Oakbay to sell stakes in South African media groups
August 21, 2017 / 7:35 AM / a month ago

Gupta-owned Oakbay to sell stakes in South African media groups

JOHANNESBURG, Aug 21 (Reuters) - South Africa’s Oakbay Investments, a company owned by business friends of President Jacob Zuma, said on Monday it would sell its holdings in two media groups including news channel ANN7 for 450 million rand ($34.06 million).

Oakbay is owned by the Gupta family, which has been accused by senior members of the ruling African National Congress party of using links with Zuma to wield influence and win business. Zuma and the Guptas deny any wrongdoing.

$1 = 13.2123 rand Reporting by Tiisetso Motsoeneng; Editing by Andrew Heavens

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