MultiChoice Group and Dimension Data decided to liquidate Vast Networks, South Africa’s largest public Wi-Fi hotspot provider, after several attempts to sell the business fell through.
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Long-serving MultiChoice Group director Imtiaz Patel will relinquish his executive duties in September 2020, the pay-television broadcaster said on Tuesday.
MultiChoice Group’s average revenue per user has fallen by 5% in South Africa as consumers continue to flock to lower-priced bouquets.
MultiChoice Group plans to offer shareholders in its two broad-based black economic empowerment schemes the opportunity to gain direct exposure to its shares listed on the JSE.
A jobs bloodbath is looming at pay-television operator MultiChoice Group, which said on Friday it will enter into a “consultation process” with 2 194 of its employees as part of a “strategic realignment of its customer service delivery model”.
The communications regulator has expressed “concern” that the listing of MultiChoice Group went ahead on Wednesday “even though there is a complaint before its complaints and compliance committee”.
MultiChoice Group made its market debut in Johannesburg on Wednesday morning as a JSE Top40 company with a market capitalisation of about R44-billion shortly after 9am.