DStv owner MultiChoice has announced that Imtiaz Patel has agreed not to step down as chair to help navigate Canal+’s buyout offer.
Imtiaz Patel will remain on as MultiChoice chair, the company said in an announcement to shareholders on Tuesday morning.
Effective 1 April 2024, Masilela will become the deputy chair of the MultiChoice board. He will also become Lead Independent Director in the place of Mr Jim Volkwyn, who will be stepping down as LID but remain as a non-executive director. South Africa’s Takeover Regulation Panel ruled at the end of February that Canal+ must make a mandatory offer to buy MultiChoice after it acquired over 35% of the company on the open market.
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