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S.Africa's Primedia Buys Major Stake in Firm |
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By
Reuters
Posted 03 August 2006 @ 03:41 pm EET |
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JOHANNESBURG (Reuters) - South African media firm Primedia said on Thursday it had acquired a 50.05 percent stake in Exactmobile, a wireless application service provider (WASP), and leading mobile content provider.
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Exactmobile has a strong brand with high recognition amongst the 13-24 demographic and a large national footprint through booklet distribution and WAP portals delivering over 120 million items to 9 million customers to date, Primedia said.
The transaction is subject to a number of conditions including Competition Commission approval.
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Reuters 2006. All Rights Reserved.
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