TopTV opts for business rescue to buy time, BUSREP.CO.ZA
Busrep.co.za – Business Report
On Digital Media, the holding company for TopTV, is likely to seek an investor from within the industry.
“The best source of a cash injection would be a current industry player who could be in a position to assist with other strategic resources that would take time for TopTV to accumulate,” the company said.
TopTV said it battled to find an appropriate partner due to the competitive landscape and the legislative requirements that limited a foreign investor to only a 20 percent ownership.
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