MultiChoice has announced Imtiaz Patel’s exit as chairman, just weeks after saying he would stay on in the role.
to oversee a possible deal with Groupe Canal+, MultiChoice Group on Tuesday announced Patel’s exit from the role with immediate effect.
In a surprise move, MultiChoice said on 2 April — following a board meeting before the Easter weekend — that it had rescinded athat Patel would step down, with board member Elias Masilela due to take up the chairmanship from 1 April. “In view of the recent ruling by the Takeover Regulation Panel that required Canal+ to make an immediate mandatory offer to all MultiChoice shareholders … the MultiChoice board has reached an agreement with Imtiaz Patel to remain on as chair,” the company said at the time.
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