MIH Holdings Limited - NetMed deal with Alpha falls through
MIH Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1993/005613/06)
ISIN Number : ZAE 000018941
JSE Code : MHH
NetMed deal with Alpha falls through
MIH Limited (Nasdaq : MIHL), the Subscriber Platforms Group through its Greek
pay-TV subsidiary NetMed, recently entered into a share subscription agreement
and a share sale agreement with Fidelity Management S.A in terms of which it was
proposed that Fidelity would acquire a 22% interest in NetMed. The completion
of this transaction was subject to the approval of certain conditions precedent,
which were not met within the applicable period. Consequently, the share
subscription and sale agreements have ceased to have effect. Fidelity is owned
by affiliates of the shareholders of Alpha Digital Synthesis S.A., the pay-TV
company that recently announced its liquidation.
- end -
About MIH Limited:
The Group`s activities are focussed on subscriber platforms providing television
and internet services to over 2 million paying subscribers in Africa, the
Mediterranean and Asia. 59% of its subscriber base consists of digital
subscribers. Across its platforms MIH has secured long-term rights to premium
movies, major sporting events and popular children`s programming, all of which
are tailored for the local market. The television platforms also provide a range
of interactive services such as online games, shopping, banking and on-demand
information. MIH has a holding in QQ, the most pervasive instant-messaging
platform in Asia.
Supporting its subscriber platforms, Irdeto Access provides encryption and other
related services to channel and platform operators worldwide.
Disclaimer: This news release contains "forward-looking statements". These
forward-looking statements are subject to a number of risks and uncertainties
that could cause MIH Limited`s actual results to differ materially from those
contemplated herein, including but not limited to, the risk factors detailed in
our Annual Report on Form 20-F and other reports filed from time to time by MIH
Limited with the Securities and Exchange Commission. MIH Limited undertakes no
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise, except as may be
required by law. Investors are cautioned not to place undue reliance on any
forward-looking statements contained herein.
Contact details:
Mark Sorour
Investor Relations
MIH Limited
+27 (0) 21 406 3008
Msorour@media24.com
Date: 25/10/2002 05:50:00 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
