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/ 30 October 2007

Mvela to buy up to 30% of Johncom media

South African investment firm Mvelaphanda has reached agreement with fund management group Allan Gray to buy up to 30% of Johnnic Communications’ media unit, it said on Tuesday. Mvelaphanda said it will buy a minumum of 25,1% and a maximum of 30% of Johncom’s media business, provisionally named Opco.