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.
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About MIH Limited:
The Group's activities are focused 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:
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Investor Relations
MIH Limited
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