South African & Nigerian media is reporting that Telecoms giant, MTN is edging towards making an official announcement on plans to acquire MultiChoice Africa; the owners of DSTV and GOTV.
Headquartered in Randburg South Africa, MultiChoice was founded in 1996 and has grown to become a video entertainment and internet company with a strong presence in South Africa and across the African continent.
PUNCH reported that top management employees at the MTN Group head office in Johannesburg, South Africa disclosed the company will “take a stand” by the end of June on its plans to acquire MultiChoice Africa.
It revealed that MTN and MultiChoice have been discussing since the last quarter of 2016 on the acquisition deal, “Should we (the MTN Group) finally come to agree to terms with MultiChoice, which is expected to happen before June ending, then the pronouncement will be made in July,” a source told PUNCH.
The source added, “Well, the whole gambit depends on the outcome we get from MultiChoice Nigeria, which is the cash cow for the pay television company.