Technology14.02.2008
Media firm rejects bid for assets
This was because the assets were “not for sale at this juncture”, as they formed part of the company’s restructuring process.
Last year, Koni Media made a R7 billion offer to buy Avusa, whose operating assets include the Sowetan, Sunday Times, Nu Metro and 50 percent of Business Day and Summit TV.
Last week it was reported that Koni returned with a R5 billion offer for the “outright purchase” of Avusa.
Avusa is in a process of separating into two listed entities.
Koni Media refused to comment yesterday.
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