‘Mbeki men’ in Sunday Times bid

JOHANNESBURG – An investment company has offered to buy 100% of media and entertainment company Johnnic Communications Limited (Johncom), it said on Saturday.

“As media professionals, we have been interested in obtaining the right media and entertainment assets for a long time. “We could not have wished for a better opportunity than what presents itself through Johncom,” said Koni Media Holdings group chief executive officer, Groovin Nchabeleng.Nchabeleng said the company had made an offer to Johncom on Monday and was to meet with it again at a later stage.”It is our intention to establish a fully integrated media and entertainment company that could take the industry in this country to levels that are fully competitive with companies in Europe, the UK and the USA,” said Nchabeleng.Johncom’s print titles include the Sunday Times, Sowetan, and Elle as well as Exclusive Books, NuMetro cinemas and Gallo music.Meanwhile, the Sunday Times reported that President Thabo Mbeki’s political adviser and a government official were part of the group hoping to take over Johncom.It said that the company belonging to Mbeki’s adviser Titus Mofolo , foreign affairs spokesperson Ronnie Mamoepa , former chief of state protocol, Billy Modise and a businessman had launched the R7bn bid for Johncom.According to the Sunday Times, Koni Media had been in talks with the Public Investment Corporation (PIC) to raise the money.PIC chief executive Brian Molefe said no deal to fund the Koni Media bid had been concluded.”The PIC has not agreed to any funding.There is no truth that the funding has been approved by the PIC for this [deal],” said Molefe.Last month the Mvelaphanda Group, headed by businessman and ANC politician Tokyo Sexwale, announced its plans to buy a stake of between 25 and 30% in Johncom.Nampa-Sapa”We could not have wished for a better opportunity than what presents itself through Johncom,” said Koni Media Holdings group chief executive officer, Groovin Nchabeleng.Nchabeleng said the company had made an offer to Johncom on Monday and was to meet with it again at a later stage.”It is our intention to establish a fully integrated media and entertainment company that could take the industry in this country to levels that are fully competitive with companies in Europe, the UK and the USA,” said Nchabeleng.Johncom’s print titles include the Sunday Times, Sowetan, and Elle as well as Exclusive Books, NuMetro cinemas and Gallo music.Meanwhile, the Sunday Times reported that President Thabo Mbeki’s political adviser and a government official were part of the group hoping to take over Johncom.It said that the company belonging to Mbeki’s adviser Titus Mofolo , foreign affairs spokesperson Ronnie Mamoepa , former chief of state protocol, Billy Modise and a businessman had launched the R7bn bid for Johncom.According to the Sunday Times, Koni Media had been in talks with the Public Investment Corporation (PIC) to raise the money.PIC chief executive Brian Molefe said no deal to fund the Koni Media bid had been concluded.”The PIC has not agreed to any funding.There is no truth that the funding has been approved by the PIC for this [deal],” said Molefe.Last month the Mvelaphanda Group, headed by businessman and ANC politician Tokyo Sexwale, announced its plans to buy a stake of between 25 and 30% in Johncom.Nampa-Sapa