| Comair's shares came under pressure last week as SAA was placed in business rescue. While the airline could ultimately benefit from a scaled back service from the national carrier - or its complete closure - there's the matter of an outstanding settlement reached with SAA earlier this year for anti-competitive behaviour back in the early 2000s. The resolution boosted Comair's earnings in the year to end-June. In a trading statement for the first half of its new financial year, it warned that earnings would be lower and that it would meet with SAA's business rescue practitioner in due course. The trouble is, the process places a moratorium on any claims from creditors so Comair will probably have to get in line and may end up taking a haircut on the outstanding debt. Meanwhile, additional shares in Capital & Regional will be admitted to the JSE and London Stock Exchange this morning after Growthpoint's deal to take control of the UK shopping centre owner became unconditional last week. It's Growthpoint's first foray into UK retail property as the sector buckles under Brexit-induced uncertainty and the growth of online shopping. More on those stories in your newsletter today, along with the latest on African Rainbow Capital's investment portfolio and updates from Kore Potash, Kibo Energy and Aveng. Following the listing and unbundling of Naspers's international internet assets in September, Ingham Analytics has released a research note looking at the sum-of-the-parts valuation for Prosus. You can access the report here. Finally, for many relatively wealthy South Africans the question has become not whether to invest offshore, but how. The need to diversify one's emerging market currency risks has become a burning one as South Africa's hoped-for political and economic recovery seems stuck in surreal slow motion. One of the asset classes many are looking at now is an investment in offshore real estate, which in some cases is made all the more attractive by the bonus of a 'Plan B' residency programme. Portugal's Golden Visa programme springs to mind here, in a country that has the additional advantages of a great climate, a well-run, business-friendly government, and one of Europe's top-performing property markets. Click here to find out more about the Golden Visa. I hope you have a good week. Stephen Gunnion Managing Editor, InceConnect
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