Anglo's Biggest Holder Says Investor Cash Should Be Last Resort
- South Africa's Public Investment Corp. owns 9% of Anglo
- Anglo fell the most in FTSE 100 last year, plunging 75 percent
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Anglo American Plc’s biggest shareholder said the company should only ask investors for more money after first exploring all expense-reducing alternatives available.
“The board and management of any company should first explore all cost-cutting options available to it in order to ensure the future of the company, before engaging with shareholders for a financial injection to salvage the company,” Public Investment Corp. said in an e-mailed statement Thursday.