Streaming issues? Report here
Bongani Bingwa 702 Gradient Bongani Bingwa 702 Gradient
Breakfast with Bongani Bingwa
06:00 - 09:00
volume_up
volume_mute

Up Next: The Eusebius McKaiser Show
See full line-up
Breakfast with Bongani Bingwa
06:00 - 09:00

Home
arrow_forward
Business

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:


This article first appeared on CapeTalk : Naspers unbundles MultiChoice to list the new MultiChoice Group in 2019


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

More from Business

fikile-mbalula-briefing-30-maypng

Curfew on public transport to be lifted, domestic air travel phased in

30 May 2020 4:44 PM

Transport Minister Fikile Mbalula outlined the relaxation of transport regulations under Level 3 of the national lockdown during a media briefing on Saturday.

Share this:
Read More arrow_forward

zulzi-2jpg

[LISTEN] Zulzi's Donald Valoyi talks the future of e-commerce and creating jobs

29 May 2020 3:04 PM

The founder shares his insights on the e-commerce space and how his company has managed to be resilient.

Share this:
Read More arrow_forward

screen-shot-2020-05-28-at-100419-ampng

Cachét Creative specialises in wedding and event planning

29 May 2020 9:15 AM

Every day #702ShoutOut and Ninety One shines the spotlight an SMMEs doing great work during lockdown.

Share this:
Read More arrow_forward

Retirement couple relationship

How to plan for retirement during the Covid-19 crisis

28 May 2020 7:47 PM

The Covid-19 pandemic and the economic destruction in its wake has left some of us wondering if we'll ever be able to retire.

Share this:
Read More arrow_forward

Economy, stock market, recession

How to invest globally...during a global pandemic

28 May 2020 7:36 PM

Investors are not exactly confident to invest in shares and trade on the markets during these times.

Share this:
Read More arrow_forward

charlys-bakery-insta-picpng

Charly's bakery is at risk, asking for help

28 May 2020 7:09 PM

Lots of small businesses are going under or holding on by the skin of their teeth .

Share this:
Read More arrow_forward

Open for business

SA economy opens steadily - will it bring any relief to the contraction?

28 May 2020 6:43 PM

On Monday many sectors of the economy will return to business as usual.

Share this:
Read More arrow_forward

screen-shot-2020-05-28-at-65146-ampng

Il Designs Creative Approach offers branding solutions to various brands

28 May 2020 9:08 AM

Every day #702ShoutOut and Ninety One shines the spotlight an SMMEs doing great work during lockdown.

Share this:
Read More arrow_forward

woman-medical-care-doctore-insurance-form-pexels-photojpeg

The Ombudsman for Short-Term Insurance report - what were the complaints?

27 May 2020 7:58 PM

The Ombud for Short Term Insurance’s aim is to resolve short term insurance complaints ''fairly, efficiently and impartially''.

Share this:
Read More arrow_forward

fashion-1345082jpg

South African based e-commerce fashion retailer gets R100 million investment

27 May 2020 7:25 PM

RunwaySale, an e-commerce fashion retailer, has received an investment of R100 million from an international private equity firm.

Share this:
Read More arrow_forward