INVESTMENT

Telkom Media shareholding in limbo but announcement may come on 9 June

South African pay-TV licensee Telkom Media is still awaiting clarity on its shareholding structure, ever since its 66% shareholder, telecoms operator Telkom, announced its intention to either reduce its shares significantly or sell them off altogether. Prolific Durban-based production company Videovision Home Entertainment holds 15% of the shares, WDB Investments 5%, MSG Afrika 5%, with 4% of shares owned by staff.

According to Telkom Media spokesperson Chris van Zyl, potential bidders for the Telkom stake may be revealed on 9 June when Telkom announces its results for the financial year. Meanwhile, Telkom Media is continuing its construction of a broadcast studio in Centurion, in line with its plan to launch a 24-hour news service.

Business Day Mon, 26 May 2008

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