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South Africa agrees to privatize troubled SAA airline

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South Africa's government announced Friday it would sell a majority stake in cash-strapped flag carrier SAA to a consortium that includes the operator of a local budget airline, effectively privatizing it. The airline, which is emerging from a rescue plan, will effectively be privatized as investors will hold a majority stake. "Having evaluated the current environment, government has agreed to the (strategic equity partner) owning of 51 percent of the shareholding and government 49… (www.msn.com) More...

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