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Guptas deny Eskom pre-payment used to buy Glencore mine

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Ajay Gupta believes the idea of state capture is an imaginary concept created by the media.
Ajay Gupta believes the idea of state capture is an imaginary concept created by the media.

Cape Town – Gupta-owned Oakbay on Thursday denied it used a pre-payment from Eskom to inappropriately fund its acquisition of Optimum from Glencore.

Oakbay was responding to a media query, in which it was speculated that the Optimum’s business rescue practitioners “may have” made these allegations.

It said its subsidiary Tegeta Exploration & Resources – which Jacob Zuma’s son Duduzane had shares in – had bought the seven target companies that were owned by Optimum Coal Holdings.

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