MultiChoice buys more BetKing for R4 billion

Jan

Who's the Boss?
Staff member
Joined
May 24, 2010
Messages
5,016
MultiChoice doubles down on BetKing for R4 billion

MultiChoice will make a formal offer of around R4 billion (USD281.5m) to increase its stake in Blue Lake Ventures Limited (BetKing) from 20% to 49%, the company has announced.

The board approved the formal offer to acquire more of the sports betting company on 10 June 2021.

It said that the offer is subject to the substantive conditions being met and the transaction becoming effective.

The equity investment will also result in payment of the contingent consideration of USD31m (ZAR0.5bn) relating to the acquisition of the first 20% in BetKing.
 

DXL

Expert Member
Joined
Aug 15, 2006
Messages
1,315
This is your typical example of corruption.

Inflate the value of your company and sell 50% of it. Take your loot and sit pretty. Everyone else suffers. Just like how Rain overstates their figures.

No Sportsbetting company can make that kind of money even in 10 years.

R4 Billion just been lost by Multichoice.
 

skeptic_SA

Executive Member
Joined
Apr 16, 2015
Messages
9,121
Few companies have R4b laying around for acquisitions. Tell me again how paying >R800 a month is "good value" for DSTV. Oh ya. The sports.
 
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