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Naspers unbundles MultiChoice to list the new MultiChoice Group in 2019

18 September 2018 8:11 AM
Tags:
DStv
Multichoice
Naspers
Company announces plans to list its video entertainment business on the JSE including MultiChoice, Showmax, DStv and SuperSport.

Naspers announced its plans on Monday to list its video entertainment business, which includes MultiChoice, Showmax, DStv and SuperSport, on the JSE.

At the same time, Naspers will be unbundling the unit to shareholders - handing over its interest in the DStv operator to its shareholders.

The listing is set to take place in the first half of 2019, pending regulatory approvals and the new company will be named MultiChoice Group.

CEO of Naspers's video entertainment unit, Imtiaz Patel says he believes this move will be a positive transaction for Naspers shareholders.

Read: Strategies for reducing your exposure to Naspers

Something we are particularly proud about is that it is a fantastic transaction for our Phuthuma Nathi shareholders.

Imtiaz Patel, CEO of Naspers's video entertainment unit

The company itself is very profitable and it has the ability to stand on its own and to fight its own battles. At this point in time, it is not anticipated that we will create any kind of leverage, therefore, meaning any kind of cash we generate it will be good for shareholders.

Imtiaz Patel, CEO of Naspers's video entertainment unit

I can tell you that the Phuthuma Nathi Scheme has been the most successful empowerment scheme in the country.

Imtiaz Patel, CEO of Naspers's video entertainment unit

It has delivered 17 times value to shareholders and we have created R12 billion worth of value to shareholder and it has been a tremendously successful scheme.

Imtiaz Patel, CEO of Naspers's video entertainment unit

To hear the rest of the conversation, listen below:

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18 September 2018 8:11 AM
Tags:
DStv
Multichoice
Naspers

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