Naspers announces MultiChoice unbundling

Naspers announced on Monday its intention to list its Video Entertainment business separately on the JSE and simultaneously to unbundle the shares in this business to its shareholders.

The new company will be named MultiChoice Group and will include MultiChoice South Africa Holdings and its subsidiaries, associates and/or affiliates, MultiChoice Africa Holdings and its subsidiaries, associates and/or affiliates, MultiChoice Botswana, MultiChoice Namibia, NMS Insurance Services SA, the African division of Showmax and its subsidiaries, associates and/or affiliates, Irdeto Holdings and its subsidiaries, associates and/or affiliates and Irdeto South Africa.

Naspers said in a SENS statement that this marks a significant step for the group as it continues what it calls its “evolution into a global consumer internet company”.

It expects that listing MultiChoice Group via an unbundling will unlock value for Naspers shareholders and at the same time create “an empowered, top-40 JSE-listed African entertainment company”.

“MultiChoice Group will remain committed to broad, socio-economic transformation in South Africa, most notably through its Phuthuma Nathi Investments (RF) and Phuthuma Nathi Investments 2 (RF) — collectively called PN – share schemes,” said Naspers. 


In its view, the PN schemes are among the most successful broad-based black economic empowerment (BBBEE) schemes in SA and have already created around R12-billion in value for BBBEE shareholders. — Fin 24

Subscribe to the M&G for R2 a month

These are unprecedented times, and the role of media to tell and record the story of South Africa as it develops is more important than ever.

The Mail & Guardian is a proud news publisher with roots stretching back 35 years, and we’ve survived right from day one thanks to the support of readers who value fiercely independent journalism that is beholden to no-one. To help us continue for another 35 future years with the same proud values, please consider taking out a subscription.

And for this weekend only, you can become a subscriber by paying just R2 a month for your first three months.

Agency
External source

Related stories

Surveys predict Black Friday likely to fuel e-commerce

Fear of contracting the coronavirus while fighting off other shoppers will probably change how people shop for sales

Right-wing Poland and the glorification of Hani’s killer

Polish anti-racism groups grow more concerned as the image of Chris Hani’s killer becomes normalised, with Janusz Walus’s likeness and name displayed on products for sale on a Naspers-owned website

Africa, tune in: The NBA is back on your screens

The NBA’s been on pause since March but will be back in full effect on Thursday. What’s happened since the stoppage and what’s about to happen?

Political interference mounts over SABC retrenchments

The SABC says it needs to cut R700-million to survive. But senior politicians have allegedly interfered to stop retrenchments from proceeding

See the light and pass the Copyright Amendment Bill

Strict copyright laws, championed by media mega-monopolies, dash the prospects of young learners, performance artists and the blind in South Africa

Editorial: Dropping celebs isn’t enough

There are not often consequences for men who are reported to have sexually abused women. But maybe, just maybe things are changing for the better.
Advertising

Subscribers only

Q&A Sessions: Frank Chikane on the rainbow where colours never...

Reverend Frank Chikane has just completed six years as the chairperson of the Kagiso Trust. He speaks about corruption, his children’s views and how churches can be mobilised

ANC: ‘We’re operating under conditions of anarchy’

In its latest policy documents, the ANC is self-critical and wants ‘consequence management’, yet it’s letting its members off the hook again

More top stories

‘Where the governments see statistics, I see the faces of...

Yvette Raphael describes herself as a ‘professional protester, sjambok feminist and hater of trash’. Government officials would likely refer to her as ‘a rebel’. She’s fought for equality her entire life, she says. And she’s scared of no one

Covid-19 stems ‘white’ gold rush

The pandemic hit abalone farmers fast and hard. Prices have dropped and backers appear to be losing their appetite for investing in the delicacy

Al-Shabab’s terror in Mozambique

Amid reports of brutal, indiscriminate slaughter, civilians bear the brunt as villages are abandoned and the number of refugees nears half a million

South Africa’s cities opt for clean energy

Efforts to reduce carbon emissions will hinge on the transport sector
Advertising

press releases

Loading latest Press Releases…