It’s been a four month slog, as both parties continue to trade blows.
The most recent from two-time fired Old Mutual CEO Peter Moyo, who’s now been granted leave to add further evidence to his case. This is expected to take another month…
Since the fight between Moyo and the Old Mutual chairman Trevor Manuel spilled into the public in May this year, the insurer’s share price has lost around 21%. In other words R29bn has been shaved off its market cap.
Where it’ll go from here is anyone’s guess, for both the court case and share price.
But what is evident, is that when the elephants quarrel it’s the grass that suffers…
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