BY RICHARD HURST, in Johannesburg
SOUTH African textile company Glodina has announced that it has retracted its proposed merger with competing company Zorbatex. The announcement follows allegations of "misrepresentations" about Zorbatex's financial affairs.

Spokesman for Glodina, Paul Schouten, would not comment any further on the problems, only adding that concerns about Zorbatex's performance had surfaced after the merger agreement had been concluded, but before the implementation date.

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