Investment News - In Brief
- Morocco and RDC bid for CAF - 2015 and 2017 “Confédération Africaine de Football” - said Mustapha Fahmy, general secretary. Final verdict initially set for November 10th 2010 will now take place in Feb ’2011. Guinea and Botswana have also shown interest.
- In a move seen as a victory for media group Avusa , its biggest shareholder, Mvelaphanda, said last week it would no longer oppose Avusa's proposed R925m acquisition of printing company Universal Hirt & Carter (UHC) - even though it still believes the timing is bad for Avusa. The dramatic about-turn follows a behind-the-scenes battle over the future of Avusa, one of South Africa’s's biggest media groups, and comes after Mvelaphanda met with the representatives of UHC on Monday.
Mvelaphanda, which owns 25.5% of Avusa, the publisher of the Sunday Times and part-owner of Business Day's publisher BDFM, was forced into retreat after it failed to convince other institutional shareholders, in particular Coronation Fund Managers with 25% of Avusa, to vote against the acquisition.
- CNBC Africa's new financial and investment show “Mansfield” moved from radio to TV. Launched on Thursday, 7 October 2010, at 9pm is CNBC Africa's new financial and investment show, "Mansfield's Money Sense", is hosted by former radio breakfast show presenter Jeremy Mansfield. The topic for the first show is "The World Economy in Perspective". Other upcoming topics include "The 3 Pillars of Wealth"; "Dissecting the Rand"; and "From Sportsman to Investor".
- Cash-strapped South African public broadcaster SABC is facing more than R1bn in legal challenges and losses through criminal, irregular or wasteful expenditure written off for the 2009- 10 financial year, according to its annual report.