Reuters logo
5 months ago
BRIEF-Naspers updates on Media24 Ltd competition appeal court ruling
April 3, 2017 / 10:10 AM / 5 months ago

BRIEF-Naspers updates on Media24 Ltd competition appeal court ruling

April 3 (Reuters) - Naspers Limited:

* Update on Media24 proprietary limited competition appeal court ruling announcement

* Competition Commission has decided to recommend merger filing for approval to competition tribunal

* Competition commission recommendation subject to condition that Media24 divest itself of majority of its shareholding in Novus

* Competition Commission recommendation allows Media24 to retain a non-controlling minority stake in novus of 19 pct

* Merger condition, including proposed 19 pct, remains subject to final approval of competition tribunal

* Competition tribunal approves merger condition, media24 will unbundle majority of its shareholding in novus to shareholders of naspers

* Naspers will provide further details of unbundling to shareholders at appropriate time. Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below