Gupta family says it plans to sell off South African holdings

Reuters News
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Posted: Aug 27, 2016 10:06 AM

JOHANNESBURG (Reuters) - South Africa's wealthy Gupta family, which has been accused of holding undue political sway over President Jacob Zuma, said on Saturday it planned to dispose of all the stakes it holds in South African businesses before the end of the year.

"As a family, we now believe that the time is right for us to exit our shareholding of the South African businesses which we believe will benefit our existing employees," the family said in a statement.

(Reporting by Ed Stoddard; editing by Andrew Roche)