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/ 2 September 2004
South African media and entertainment group Primedia on Wednesday announced it has received regulatory approval for its proposed acquisition of 100% of the issued share capital of New Africa Media Holdings and, as a result, the acquisition of 66,5% of the entire issued share capital of KFM.
The multinational group Unilever on Monday launched its corporate brand with a new logo and mission at a function at Johannesburg’s Constitution Hill attended by business leaders and dignitaries, including Deputy President Jacob Zuma. Unilever brands include Sunlight, Omo, Dove, Axe, Rama, Joko, Knorr and Mrs Balls.
The working group for the black economic empowerment charter on information and communications technology (ICT) has released its fourth and last working draft, six months ahead of its planned implementation. The charter proposes that all ICT companies in the country should be 45% to 50% charter-compliant by February 2006.
South African media group Caxton and CTP Publishers and Printers (Caxton) reported a 15,6% increase in diluted headline earnings per share from 64 cents to 74 cents for the year ended June. The group on Tuesday said it has declared a dividend of 35 cents per share compared with 30 cents for the previous comparable period.
South African mobile operator MTN and the South African National Taxi Council on Tuesday launched the Ring’uvaya (phone while you travel) initiative, which will equip South African taxis with pay phones, enabling commuters to make phone calls in the taxi. KwaZulu-Natal is the first province that will get Ring’uvaya phones.
Telecommunications giant Telkom will go ahead with its plans to acquire South Africa’s fourth-largest internet service provider in the dial-up market, Tiscali SA, allegedly for R400-million despite "strong opposition" from a number of industry players. The Internet Service Providers’ Association has accused Telkom of being anti-competitive.
New York-listed Computer Science Corporation has announced a black economic empowerment (BEE) alliance with two of South Africa’s leading black-owned SAP implementation specialist companies, Cornastone Technology Holdings and Nokusa Consulting.
The Financial Services Board (FSB) is investigating South African information technology company CS Holdings for alleged insider trading, the board confirmed on Tuesday. "I can confirm that we are looking at the insider trading allegations but am not in a position to discuss further details," an FSB spokesperson said.
South African electronics company Reunert’s wholly-owned subsidiary Saco Systems has concluded a deal with British company Intellident to promote and deliver the latest technology in "smart label" RFID library solutions for the Southern Africa market, Reunert announced on Monday.
The board of the Nasdaq-listed and United States-headquartered UTi Worldwide Inc has approved a proposal of a transaction that will earn the company’s South African operations black economic empowerment (BEE) credentials, the company announced on Friday.