The MultiChoice offer to Phuthuma Nathi shareholders — an exchange of up to 20% of their shares in MultiChoice SA for stock in the JSE-listed MultiChoice Group — hasn’t gone down well with some. We asked MultiChoice Group CFO Tim Jacobs, why do it at all?
There’s been a small group of shareholders that has consistently over time been asking us if we could consider some kind of a liquidity event. When Naspers made the decision to unbundle the MultiChoice Group, it did two things: it gifted 5% of the value of MultiChoice SA to our Phuthuma Nathi shareholders and it made a commitment that it would do this liquidity event after the unbundling, once we were a listed company...
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