Naspers unbundles MultiChoice to list the new MultiChoice Group in 2019
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.
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:
The Daily Maverick's Sikonathi Mantshantsha says government leadership is truly to blame for the current Eskom mess.Read More
Refilwe Moloto interviews Marks on her first visit to Cape Town since taking up her new role.Read More
Sarb Governor Lesetja Kganyago highlights responsibilities of Reserve Bank and why interest rates are a tool not policy objective.Read More
How do you measure if you are financially on track after a lousy year?Read More
This massive state oil producer is now the world's first $2 trillion company.Read More
Is there an option for mass solar supply to South Africa in the near future? This entrepreneur thinks so.Read More
What are the immediate and existing solutions to Eskom's generation issues?Read More
Should we use business rescue to save all our parastatals? Specialist attorney Gareth Cremen explains why that's not a good idea.Read More
"We don’t trust those engineers at Eskom. We don’t trust management and we don’t trust the board," says Joseph Montisetse (NUM).Read More
A task team has been created to deal with issues at the Cape Town port, from a shortage of cranes to heavy traffic flows.Read More