Ramaphosa denies BHP’s takeover bid of Anglo-American shows lack of confidence in economy

President Cyril Ramaphosa has rejected claims that BHP Billiton’s bid to take over Anglo-American was a vote of no confidence in the country’s economy.Ramaphosa’s spokesperson Vincent Magwenya said this proposed deal does not point to a hostile business environment in the country.He said there were many multi-billion rand investment projects that have been implemented and some were in the pipeline.BHP Billiton has proposed more than R740 billion to take over Anglo-American, but this has been rejected by the latter.Magwenya said what was happening between BHP and Anglo-American was a…