MultiChoice says it was the plan all along for Imtiaz Patel to step down after the details of the Canal+ deal were hammered out.
MultiChoice chairman Imtiaz Patel is stepping down with immediate effect and is being replaced by Elias Masilela .He would remain involved as a consultant to MultiChoice until October 2028.
Patel declined to comment, referring queries to MultiChoice, while Masilela said he supported the decision. “Mr Patel has agreed to extend his tenure until the conclusion of the Canal+ transaction or such sooner date as may be determined in light of progress on the transaction,” it said. “At the time of announcement of 2 April 2024, discussions were in their final stages on key terms of the proposed transaction,” it said.
Elias Masilela Headline Imtiaz Patel Multichoice Broadcasting
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Imtiaz Patel to stay on as MultiChoice chairmanMultiChoice has rescinded a previous announcement that Imtiaz Patel would step down as its chairman with effect from 1 April.
Read more »
Canal+ deal forces MultiChoice to extend Patel’s tenureMultiChoice reaches an agreement with Imtiaz Patel that will see him continue as chairman until completion of the Canal+ transaction.
Read more »
MultiChoice scraps chairman’s resignationDStv owner MultiChoice has announced that Imtiaz Patel has agreed not to step down as chair to help navigate Canal+’s buyout offer.
Read more »
Patrice Motsepe could join Canal+ bid for MultiChoicePatrice Motsepe is in talks with Canal+ to join the multibillion-dollar bid for MultiChoice Group, sources have said.
Read more »
Billionaire Patrice Motsepe could join R55bn Canal+ bid for MultiChoiceBillionaire Patrice Motsepe could join R55bn Canal+ bid for MultiChoice
Read more »
MultiChoice Establishes Independent Board to Consider Groupe Canal+'s OfferMultiChoice has formed an independent board to review Groupe Canal+'s offer to purchase the remaining shares of the company. The offer values MultiChoice at around R55 billion.
Read more »