Why on earth would IAG/Willie Walsh want to invest in SAA?
As has been said, they are a basket case and BA/IAG can clean up on the JNB and CPT routes with little competition from SAA and use franchisee Comair to transfer pax to / from LHR / local cities.
What else have SAA got to offer over the above?
Not a lot, I would suggest.
Even if they did invest they would have to contend with SA politics and politicians with their way of doing business.
If I were Willie, I wouldn't touch them with a barge pole!