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Wednesday, 3 April 2024

Broadband TV News: Patel stays on as MultiChoice chair amid takeover talks

Story from Broadband TV News:

MultiChoice chairman Imtiaz Patel is to remain at the helm until the proposed buyout by Canal+ is completed.

Last September the board of the South African broadcaster announced Patel would be stepping down on April 1.

“In view of the recent ruling by the Takeover Regulation Panel that required Groupe Canal+ SA to make an immediate mandatory offer to all MultiChoice shareholders, the MultiChoice board believes there is significant benefit in continuity at this time, and Mr. Patel has agreed to extend his tenure until the conclusion of the Canal+ transaction, or such sooner date as may be determined in light of progress on the transaction,” MultiChoice said in a statement.

Elias Masilela, who was due to succeed Patel as chair, has been named deputy chairman of the MultiChoice board.

Copyright © 2024 Broadband TV News.