Patel: ‘MultiChoice is set to become a Top 40 JSE-listed company’

JOHANNESBURG — Naspers' announcement that it intends to separately list and unbundle its video entertainment business as MultiChoice Group on the JSE has been seen as Naspers' first step in unlocking its stock discount in relation to its 31% Tencent stake. While Netflix and Amazon are starting to eat MultiChoice's lunch in South Africa, MultiChoice is still not a bad business by any stretch. For the year ended March, it generated revenues of R47.1bn and trading profits of R6.1 bn. In this teleconference call, Naspers CEO Bob van Dijk along with Naspers Video Entertainment CEO, Imtiaz Patel, explain the rationale for the unbundling. – Gareth van Zyl

Hello everyone and thank you for joining us to discuss Naspers' announcement of our intention to list our Video Entertainment business specifically on the Johannesburg Stock Exchange (JSE) and simultaneously to unbundle the shares in this business to our shareholders. On the conference call with me, to discuss the announcement, is Bob van Dijk, CEO of Naspers, and Imtiaz Patel, CEO of Video Entertainment, and Calvo Mawela, CEO of MultiChoice SA. Bob and Imtiaz will provide an overview of the announcement. Thereafter we will move to a Q&A session, which the conference call operator will facilitate. With that, over to you, Bob.

___STEADY_PAYWALL___