GUPTA MEDIA SALE
Unclear if Manyi's Gupta media deal must be approved
Manyi says the Infinity Media and The New Age deal has been finalised, just technical issues remain
New media owner Mzwanele Manyi says his acquisition of the Gupta-owned media assets is a done deal, however it is still unclear whether the Competition Commission needs to sign off on it. Manyi, who bought the Gupta’s Infinity Media and The New Age, said on Sunday the deal had been finalised and it was just the technical issues, such as informing the commission, that were outstanding. "It’s a change of ownership … Whatever the market share, it remains the same. The complication with mergers and acquisitions is whether it creates a monopoly," Manyi said. In August, Oakbay Investments announced its withdrawal from its media interests‚ selling its shareholding in Infinity Media and The New Age to Lodidox and management, owned by Manyi, for R450m. Lodidox and management will take Oakbay’s 65% shareholding in Infinity Media for R300m and its two-third stake in TNA Media for R150m. The Competition Commission’s head of communications Sipho Ngwema said the commission had not been informed o...
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