The Transport Secretary has promised new fines to force utility companies to fix roads more quickly after digging them up.
Civitas did not immediately respond to a Reuters request for comment. "A valuation north of $4.0 billion is reasonable, but the company would be shrinking not just in market cap and enterprise value, but also lower capital returns, which may not be well received in a market that places value on scale," said Gabriele Sorbara, an analyst at Siebert Williams Shank.
Rescuers and volunteers have pulled at least 78 dead miners and more than 160 survivors from an abandoned South African gold mine, where they have languished for over two months during a standoff with authorities who demanded they surrender to police because they were mining illegally. Hundreds are still believed to be trapped Wednesday and the death toll is expected to rise in a disaster that has focused criticism on the South African government’s decision to try to “smoke them out” by cutting off food and other supplies for a time. Civic groups claim authorities also removed the ropes and pulley systems that the miners used to enter and exit at least one shaft and send down supplies.