Media and entertainment group Johnnic Communications on Friday confirmed that it has received an offer for the disposal of its shareholding in M-Net and SuperSport, which the board is currently reviewing — news which saw the group’s share price jump to an all-time high.
The prospective buyer was not named but there has been speculation in the marketplace for some time that media giant Naspers might be interested in purchasing Johncom’s stake in the lucrative pay television business.
At 1.15pm, Johncom’s share price was trading at an all-time high of R70 per share – up 3,70% or R2,50 on Thursday’s closing price of R67,50. — I-Net Bridge