Kwesè TV— one of the media services of Econet Media Limited—a subsidiary of Econet Group, has been put up for sale, alongside other media arms of Econet Media. This comes sequel to its recent shutdown.
Struggling Econet puts its shuttered and debt-riddled Econet Media and Kwesé up for sale in 29 countries – including its 20%-stake in South Africa's new free-to-air Kwesé Free TV licensed venture:https://t.co/Kv92hZGBF9 pic.twitter.com/h8oSM7lmhn
— TVwithThinus (@TVwithThinus) August 26, 2019
According to an Ernst and Young ‘invitation to tender’ newspaper advertisement released on the 23rd of August 2019, Econet Group plans to sell off its Econet Media Limited shares. The shares would be sold across 29 units in South Africa, Botswana, Nigeria, Ghana, Dubai, Kenya, Malawi, Lesotho, Rwanda, Tanzania, Uganda, Zambia, and Mauritius.
Five years after launch, Econet Media, owner of Kwesé TV, announcing the sell-off of its operations across a dozen different countries in Africa. Econet Media went under administration in July. pic.twitter.com/xTFX1saSyJ
— newZWire (@newswireZW) August 23, 2019
The move to sell comes weeks after the company cuts off all Kwesè services; Kwesè TV, Kwese Free Sports, and Kwese iflix.
See also: Econet Shuts-down Kwesé TV, Kwesé Sports and Kwesé Play
The services up for sale include Kwesé Free TV Limited and Modern African Productions Limited in Ghana; Econet Vision in Mauritius, Deque Media Services Limited and MAP Nigerian Productions Limited in Nigeria, Kwese Play Pty Limited in South Africa, Omni Broadcast Limited in Uganda, and Platinum Communications Limited in Zambia; amongst others.
The invitation to tender states that bidders are required to specify the name of the subsidiary and the number of shares to be tendered. This offer is valid till the 6th of September, 2019, at 16:00 (GMT+ 4) Mauritius time.
The selected bidders will be given a space of five working days to pay a non-refundable fee of 10% of the tendered amount.
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