PIC ups its stake in Woolworths

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The Public Investment Corporation now has about a 15% interest in the group, from about 11% previously

The Public Investment Corporation has upped its stake in retailer Woolworths to 15.076%, worth about R5.4bn on Thursday morning.The share price of Woolworths has fallen 28.83% so far in 2020, compared to a 6.

02% fall for the JSE all share.

 

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Woolies has been holding onto a dying and value destructive international division for years but hey, it’s vibes there by PIC

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