ICASA concerned about MultiChoice JSE listing

ICASA said it has noted with concern the listing of the MultiChoice Group on the JSE, despite an outstanding complaint against the company before its Complaints and Compliance Committee.

This complaint was filed by Khulisa Social Group on 23 January 2019, which argued that the listing would result in a contravention of the Electronic Communications Act.

Section 13(1) of the ECA states that a licence or the control thereof may not be let, sub-let, assigned, ceded or in any way transferred to any other person without the prior written permission of ICASA.

MultiChoice Group listed on the JSE this morning with its share price starting at R95.

MultiChoice presented its case before the CCC on 18 February 2019, and argued that the matter was not urgent and the listing had not yet taken place.

The company also said that the CCC had no jurisdiction over future events.

“ICASA is indeed concerned that the listing seems to be going ahead whilst the CCC is still considering representations that were made and yet to make its final recommendations on the matter to council of the authority,” said ICASA.

MyBroadband reached out to MultiChoice for feedback, who responded by stating that all necessary approvals for its JSE listings were met.

“MultiChoice Group is satisfied that all the necessary regulatory approvals in relation to its listing on the JSE have been properly sought as required,” said MultiChoice Group executive for corporate affairs Joe Heshu.

“We have engaged constructively with ICASA’s CCC to resolve the matter,” Heshu said.

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ICASA concerned about MultiChoice JSE listing