MTN boss pockets R38m from share sale
7 November 2009
"I'm balancing my portfolio, that's all". Fair enough.
A Securities Exchange News Service search shows that on October 7, Dabengwa sold 295000 shares valued at R129 each.
Last Sunday, the Sunday Times Rich List, which placed Dabengwa at number 78, listed the worth of his 0.10% investment in MTN as R204-million.
Speaking to the Sunday Times yesterday, Dabengwa said he had sold the shares for "personal reasons".
"I'm balancing my portfolio, that's all," he said.
In August, the Sunday Times revealed how Dabengwa was embroiled in a bitter court battle with Xoliswa Ngema, who instituted divorce and maintenance proceedings against him in the High Court in Pretoria.
Dabengwa, however, strongly denied that the two were married according to customary law, as Ngema alleged.
The matter will be finalised at a later date, which is yet to be set.
Dabengwa denied that the court matter had played any role in the sale of the shares.
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