Piet Viljoen lays into Naspers management for “feeding” at shareholder expense

Veteran money manager Piet Viljoen has been on the warpath against Naspers management in the runup to Tuesday’s release of the group’s financial results. He ripped into them in a social media post (see below), which sparked an interview with Alec Hogg where the manager of the Merchant West Value Fund elaborated on his views. Viljoen is not alone. A couple years back, a group of South African money managers issued an unprecedented public statement attacking management’s approach. Given the impairments that will be disclosed with the results on Tuesday, those critical voices are likely to be heard again in the week ahead. Learn more about your ad choices. Visit megaphone.fm/adchoices