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Johannesburg - Times Media Group (TMG) has defended itself against criticism by Sekunjalo group executive Iqbal Surve of editorials about the acquisition of Independent News and Media SA (INMSA), the Business Day reported on Monday.
Surve took exception to editorials in some of TMG's publications, which included Business Day and the Sunday Times.
The editorials questioned the transparency of the funding arrangement for the investment group's acquisition of INMSA, it was reported.
Surve had tweeted on Sunday: "Avusa (TMG) is fighting Sekunjalo/Independent since they are fighting to hold on to their turf in challenging times for them."
TMG CEO Andrew Bonamour said Surve's tweet was unfair.
"To stand on a public platform to slate us like that is not fair. Even journalists who don't work for us have asked questions about the funding for the Independent sale. But he's welcome to sit with us and see the progress we have made on transformation," said Bonamour.
Sekunjalo was leading a R2bn buyout of INMSA, which owned print titles such as The Star, The Cape Times, and Isolezwe.
Last week, it emerged that the Government Employees Pension Fund (GEPF) would be funding part of the R2bn to the tune of R500m.
The GEPF had a 19.5% stake in TMG.
According to Business Day, former president Nelson Mandela's grandson Mandla and prominent businessman Sandile Zungu were shareholders in Sekunjalo.
