JPMorgan Says BHP Plan Risks $4.3 Billion S. Africa Outflow
- Developed-market index funds would sell Kumba, Amplats stock
- Emerging-market index funds wouldn’t buy all that’s available
Anglo American Platinum near Rustenburg, South Africa.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
A successful takeover of Anglo American Plc under the arrangements BHP Group has offered could lead to outflows of $4.3 billion from South Africa, according to a JPMorgan Chase & Co. analysis.
Such an outflow, if a deal goes ahead, could weaken the rand, which has gained 4.4% against the dollar, the most of 16 major currencies tracked by Bloomberg, over the last five weeks.