Tsogo’s share price rises sharply
2015-12-23 · Industrial Developments news
Tsogo Sun rose as much as 9.4% to an intraday high of R22.64 on Tuesday with 3-million shares trading by 3PM.
The casino group provided details last week of its proposed merger of 10 of its hotels with Hospitality Group (HPB‚ HPA).
Tsogo’s share price may have also been boosted by the Competition Commission blocking competitor Sun International’s (SUI) proposed acquisition of Peermont.
Sun International said last week Competition Tribunal hearings were unlikely to take place before June‚ which was too late for the deal’s agreed March 31 deadline.
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