By Staff Writer, ITWeb
Johannesburg, 30 Apr 2013
TopTV's shareholders have voted in favour of China's StarTimes, despite a last-minute bid by local consortium Dynamic TV, which was financially backed by Multichoice.
TopTV's shareholders have voted in favour of China's StarTimes, despite a last-minute bid by local consortium Dynamic TV, which was financially backed by Multichoice.
This came to light in today's business rescue plan meeting between TopTV parent company On Digital Media and its creditors and shareholders.
The vast majority of TopTV's shareholders, which include the Industrial Development Corporation, Development Bank of Southern Africa, the National Empowerment Fund and European satellite operator SES, voted in favour of the rescue plan initially presented by StarTimes.
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