Johncom sells its stake in M-Net

Media group Naspers will get Johnnic Communications' 38,56 percent stake in pay TV channels M-Net and SuperSport for R3,15billion.

Media group Naspers will get Johnnic Communications' 38,56 percent stake in pay TV channels M-Net and SuperSport for R3,15billion.

Naspers will issue 20,9million ordinary shares and pay R250million in cash to Johncom.

Johncom, which owns Sowetan, said it would unbundle the Naspers shares to its own shareholders. - Staff Reporter with I-Net Bridge

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