Anglo plots De Beers takeover

[Mike Stenson (RIP)]

London - Global miner Anglo American is considering a plan to take control of De Beers, the world's largest diamond company, The Sunday Times newspaper reported.

The London-based company, which has significant mining operations in South Africa, would do so by buying out the Oppenheimer family's stake, said the report, which cited sources in the British capital's city financial district.

Anglo American has a 45% shareholding in De Beers, with the Oppenheimers holding 40% and the government of Botswana 15%.

The deal could cost Anglo American at least £2bn, the report said.

"Shareholders aren't happy with the minority investment. They want clarity either way, and the view of the directors is a positive one: that they would be interested in taking control," the broadsheet cited a banking source as saying.

[Michael Alexander]

This was mentioned about a year back, that either Anglo would choose to bail out of Debeers or take over The group, needless to say, it now appears that they intend to takeover.....