Anglo sees global

Anglo American's plans to move its primary stock exchange listing and its headquarters to London in early 1999 mark a new phase in South Africa's corporate restructuring process. Anglo attributes the decision to a desire to go global. A London listing will help it attract international investors, and give it access to large amounts of low-cost capital. Anglo also believes the move will enable it to compete with rivals such as Rio Tinto on an equal level. The South African government has accepted Anglo's decision, but trade unions have attacked it as a vote of no confidence in South Africa.