File: Naspers’ newly listed pay-television business Multichoice Group notified workers of its intention to retrench 1,790 workers.
JOHANNESBURG - Naspers's unbundling of its video entertainment business, MultiChoice, is going ahead.
MultiChoice Group is expected to start trading on the JSE from 27 February.
Naspers says its business has evolved into two separate entities - global internet business and a cash-generative African video entertainment business.
MultiChoice Group will include subsidiaries such as Showmax, MultiChoice Botswana and MultiChoice Namibia.
The group had 13,5 million subscribers as of March 2018, and generated more than R47-billion in revenue.
It reported an operating profit of R6-billion.