Tokyo Sexwale has officially resigned as executive chairperson of Mvelaphanda Group.
Tokyo Sexwale, sworn in on Monday as Minister of Human Settlements, is planning to quit his post as executive chairperson of the Mvelaphanda Group.
Telkom has had an offer from a Vodafone unit for its half of mobile operator Vodacom, while Mvelaphanda may lead a bid for the whole group minus the Vodacom stake, Telkom said on Monday. Shares in Telkom jumped over 15% to R158, the highest level in six months and valuing the company at R82,28-billion.
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/ 12 November 2007
Mail & Guardian publisher Trevor Ncube has scotched rumours that Tokyo Sexwale’s Mvelaphanda Group is planning to buy a 30% stake in the newspaper. Ncube said that the company was in talks with a number of people, but at this stage, a deal was not on the cards.
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/ 12 November 2007
President Thabo Mbeki has denied that the government is behind the Koni Media Holdings’ bid to buy media giant Johncom. He described as ”irrational” the media storm around the bid by Koni — which is partly owned by Foreign Affairs spokesperson Ronnie Mamoepa, presidential political adviser Titus Mafolo and former chief of protocol Billy Modise.
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/ 8 November 2007
South African investment group Mvelaphanda Group will buy 12,3% of telecommunications firm Vox Telecom for R292,3-million in cash. Mvelaphanda said that Vox Telecom — which provides voice and data services — is ideally placed to benefit from the development of the South African telecoms industry.
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/ 7 November 2007
South African investment firm Mvelaphanda Group (Mvela) said on Wednesday that it was in talks that may affect its share price if successfully concluded, sending its stock price higher. Mvela said the cautionary was not related to the deal in which the firm said it had agreed with fund management group Allan Gray to buy up to 30% of Johnnic Communications’ media unit.
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/ 5 November 2007
Koni Media Holdings on Sunday denied government involvement in its bid to take over media and entertainment company Johncom. ”Koni Media strongly denies any involvement of the Presidency or any other government structures in its bid for a 100% stake in Johncom,” said group CEO Groovin Nchabeleng.
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/ 30 October 2007
The JSE rose modestly at noon on Tuesday as investors became more optimistic that the United States Federal Reserve would cut interest rates, which would bolster Wall Street. Investors cheered the news that Tokyo Sexwale’s Mevelaphanda group plans to buy up to 30% of Johncom’s to-be-formed Opco.
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/ 14 September 2007
A lack of sponsorship and an insufficient number of clubs from coastal areas have set the football National First Division about four years back. Club officials this week reluctantly accepted a proposal by the Premier Soccer League to divide it into two different leagues, known as the Coastal and Inland Streams, thereby robbing it of its national identity.