JOHANNESBURG - It is believed that an american law firm, Pomerantz is investigating claims on behalf of Naspers Limited investors.
The investigation concerns whether Naspers and if certain officers and directors have engaged in securities fraud or other unlawful business practices.
This follows calls made by the DA towards the end of November for MultiChoice to publicly release the full details of the contract it entered into with Gupta-linked news network, ANN7. The party insists that all records prior to contract negotiations should also be made public.
The DA said it would take the matter up with Independent Communications Authority of South Africa should MultiChoice not publish the information within 48 hours.
On December 1, the company reported that MultiChoice had initiated an investigation into whether improper payments were made to ANN7, a South African news channel owned by the politically-connected Gupta family.
The wealthy Gupta brothers, who have close ties with President Jacob Zuma, face accusations of state capture in which they allegedly used their proximity to power to exert undue influence on state enterprises in order to win lucrative state tenders.
According to the leaked Gupta emails, it was revealed that MultiChoice substantially increased its annual payment to ANN7 from R50m to R141m over the past two years.
Yoh! Just YOH! American law firm., Pomerantz, has launched an investigation into the #MultiChoice/#ANN7 deal. Following this investigation, #MultiChoice and #Naspers could face class action on behalf of Naspers investors. Full statement below. pic.twitter.com/yR7D6r5raw— Lezanne (@Lizira00) December 5, 2017
- BUSINESS REPORT ONLINE