Zimbabwe Platinum Holdings (Zimplats) has said that some of the company's major foreign shareholders are in favour of accepting a cash offer from Impala Platinum Holdings (Implats), the world's second largest platinum producer.

Zimplats chief executive Roy Pitchford said that, although there was some dissent, shareholders in Europe and America were prepared to sell:

'Large shareholders are saying given that Impala already has control, they decided that they would probably accept the Impala offer.

'It's not necessarily that they think the price is fair and reasonable. Some have said it should have been higher, others are quite happy with it.'

Implats gained control of almost 51 per cent of the Zimbabwe company in May after purchasing Absa Bank's 14.84 per cent stake in a deal which also required it to offer to buy out Zimplats' minority shareholders.

With a Melbourne institutional investor having sold half a million shares to Implats this week, the company's interest in Zimplats is now nudging 54 per cent.

According to Mr Pitchford, the shareholdings of American and European investors who look likely to sell would bring Implats' involvement up to about 64 per cent.

Implats' offer closes on the 29th of August.