JOHANNESBURG – Africa’s biggest media company, Naspers, said yesterday its offer to sell stakes in its core businesses to black investors had been over-subscribed by almost three times.
Naspers said in a statement black South Africans had applied to buy 130.8 million shares in a holding company that will own a stake in pay-TV network Multichoice – compared to 45 million shares available. They applied for 42 million shares in a holding company that owns a stake of Naspers’ Media24 newspaper and magazine unit, compared to 14,6 million shares available.Nampa-ReutersThey applied for 42 million shares in a holding company that owns a stake of Naspers’ Media24 newspaper and magazine unit, compared to 14,6 million shares available.Nampa-Reuters
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