Loading...
See More

Independent sale decision soon

Aug 08 2012 09:44 Sapa

Related Articles

Multi-billion rand bid for Independent

Independent confirms sale rumours

Politically-connected bid for Independent

Independent Newspapers sale on the cards

Independent: Noseweek article misleading

Independent staff want piece of the pie

 
Johannesburg - The outcome of a review into potential offers to buy Independent Newspapers is expected within the next month, it was reported on Wednesday.

An unnamed source told Business Report that International News and Media, the Irish owners of Independent Newspapers, received an offer of R2.4bn from the Sekunjalo Consortium two weeks ago.

"The offer has money and is bankable and it's underwritten by a global investment bank," the source told the newspaper.

However, Sekunjalo Holdings chairperson Iqbal Surve refused to confirm whether the consortium had made the offer.

"We do not respond to media speculation," he said.

South African businessman Lazarus Zim denied rumours that he had formed a consortium with the Gupta brothers, who own The New Age newspaper, to make an offer.

Staff at Independent Newspapers were also establishing a workers' trust to buy at least 25% of the local operations, so they could have a say in how the company was run. Archbishop Emeritus Desmond Tutu was patron of the trust.

Independent Newspapers publishes, among others, The Star, the Pretoria News, the Cape Times, the Daily News, and The Mercury.

*Follow Fin24 on Facebook, Twitter and Google+.
independent newspapers  |  sekunjalo  |  media
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...