Investment In Brief
- The Independent Communications Authority of South Africa (ICASA) has mandated that companies bidding for a WiMax licence must have 51% black ownership.Companies affected by this new ICASA ruling who might wish to launch WiMax include MTN, MWeb, Internet Solutions, Altech and Verizon.
- JSE-listed Kagiso Media has reached an agreement to acquire a controlling interest (50.1%) in Urban Brew Studios. The initial consideration of R75.1 million will be settled in cash. The impact of the acquisition for the six months ended 31 December 2007 would have been a 3.1% headline earnings enhancement from 66.1 cents to 68.1 cents if it had been in force for the period. Completion of the acquisition is subject to conditions precedent, which include a due diligence on Urban Brew Studios and approval from the Competition Commission. The effective date of the acquisition will depend on the fulfilment of these conditions.