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October 29, 2007

Asset split before BEE - Johncom

Johannesburg - Just 10 days after issuing the long-awaited announcement that it was involved in negotiations with a potential black empowerment partner, Johnnic Communications (Johncom) unexpectedly withdrew the announcement on Friday.

It informed shareholders that it had decided to delay the talks until after had completed the sale of its M-Net/SuperSport stake to Naspers and the unbundling of OpCo, which would hold Johncom's media and entertainment assets.

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Posted by StaffWriter at October 29, 2007 11:17 AM