Shoprite Or he could simply move to George
Oom Christo Wiese has let drop the bombshell – if by bombshell you mean a large heavy object wrapped up in a mattress and several duvets, from a not particularly dizzy height – that Steinhoff, owned substantially by Oom C., might be open to the idea of acquiring Shoprite, owned, not insubstantially, by a Mr. C. Wiese. So we’re not talking a “Tesco buys Pick n Pay” scale bombshell, more a rejigging of the administrative structure of certain large assets. What we are talking about, however, is, potentially, a R400billion consolidated retail business with furniture, food and groceries under one roof, one that is now represented on five of the six possible continents. Wiese describes the putative move as a “natural development”, as, aged 75, he contemplates retirement.
Comment: But don’t get too excited. Oom C. has a lot of irons still in the fire, including the opening of 500 New Look stores in China – New Look being a UK fashion retailer owned by Brait, owned – again, substantially – by the man himself.