South Africa's trade department, company regulator to probe Steinhoff

South Africa's trade department, company regulator to probe Steinhoff
FILE PHOTO: South African tycoon Christo Wiese gestures during an interview in Cape Town
JOHANNESBURG (Reuters) - South Africa's Department of Trade and Industry and the Companies and Intellectual Property Commission said on Tuesday they would investigate whether retailer Steinhoff had breached domestic company laws.

Steinhoff has been rocked by an accounting scandal that has wiped off billions of dollars off its market value.

(Reporting by Ed Stoddard; Editing by Tiisetso Motsoeneng)

2017-12-12 11:03:35

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