COMPANIES The African empire of Phil Edmonds, the former England cricketing star, has crumbled further in the face of economic forces that are ravaging oil and mining investments around the world.
White Nile, Mr Edmonds’ oil exploration company in Sudan, intends to turn itself into a farming company and put its controversial oil project on hold until 2011 or later. It proposes to rename itself “Agriterra” at a shareholder meeting in January.
