Business News of Tuesday, 21 October 2003

Source: THE STATESMAN

Don't Rush Into Anglo Merger -Anglogold Dep. Chairman

MR. James Motlatsi, 53, deputy Chairman of AngloGold has cautioned that, the government of Ghana should be in no rush to agree to Ashanti merging with his $8 billion Company or any other, for that matter.

According to THE STATESMAN , he made this frank revelation in post-conference conversation he had with some journalists, including Egbert Faibille Jnr. of the Independent and Asare Otchere-Darko of the Statesman.

He said, “speaking not as deputy Chairman of AngloGold, for you Ghanaians, Ashanti is your greatest asset.

I don’t think you should be in a rush to sell into this merger. You really have a rich asset in Obuasi. I think the government should take its time, and think seriously about the future of Ashanti.”