Steinhoff fraud fears lay capital markets hero low

Steinhoff International’s revelation of accounting irregularities has smashed the reputation of a company that had been widely admired as a daring and astute user of capital markets. Sam Kerr, Virginia Furness, Aidan Gregory, Silas Brown and Bianca Boorer examine how the retailer's troubles have rocked confidence among bond, equity and loan investors and even shaken appetite for South African risk.

  • By Aidan Gregory, Bianca Boorer , Sam Kerr, Silas Brown, Virginia Furness
  • 07 Dec 2017
The acquisitive group controlled by Christo Wiese has been plagued for months by rumours of potential accounting impropriety, but a confirmation of “inaccuracies” in its financial reporting by the company on Tuesday night sent its securities into a spiral, wiping out most of the value of a stock ...

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