SA to consult Eskom debt holders on reorganisation

South Africa’s government is intent on ensuring embattled state power company Eskom becomes a sustainable entity and will consult with its debt holders on any reorganisation, public enterprises minister Pravin Gordhan said.

“I think the market understands that we are going to run a fair process,” Gordhan said in an interview with Bloomberg TV at the World Economic Forum on Africa in Cape Town on Thursday. “We require a bit of patience through this period where we are looking at different options, and the second period during which we will consult with all the lenders, and the third period during which we will implement those options. I don’t think there’s any real concern about haircuts.”

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