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article about MWeb delisting ? ada apa sih - mungkin ada yang tahu ?

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  • rusdiah
    nah diweekend ini...ternyata ada artikel lagi dari luar ...sekitar Mweb... kabarnya delisting karena banyak mengeluarkan dana .he.he.he..? ada yang tahu ? tuh
    Message 1 of 1 , Jun 1, 2001
      nah diweekend ini...ternyata ada artikel lagi dari luar ...sekitar Mweb... kabarnya delisting karena banyak mengeluarkan dana .he.he.he..? ada yang tahu ?
      tuh kebetulan bersamaan dengan artikel dibisnis indonesia untuk hari Sabtu/Minggu......menarik sekali..mengenai mweb...katanya investasi besar besaran diwarnet..he.he.he..jadi sedikit berkaitan.

      Jadi untung juga yah universitas unversitas diIndonesia...kebagian dana go publicnya eh..entah deh dana dari mana...mungkin setelah membaca artikel dibawah ini ada yang bisa memberikan komentar...karena saya binun bacanya ?
      salam, rr

      -----Original Message-----
      From: Michael Mangowal
      To: rusdiah@...
      Date: Thursday, May 31, 2001 10:43 AM
      Subject: Fw: article about MWeb delisting

















      M-Web's delisting puts internet firms in doubt

      NEWS of service provider MWeb's imminent delisting has raised concern about the financial strength of other local internet companies and the viability of their JSE Securities Exchange SA listings.

      M-Web's decision was a local example of an international trend in the embattled internet sector, analysts said.

      Its parent company, Naspers, said a stagnant growth, coupled with the general gloom facing internet companies, led to rethinking the company's listing.

      The proposed delisting, Naspers said, comes in the wake of recent trends which show that greater economies of scale can be achieved by integrating internet ventures with traditional media businesses.

      M-Web CEO Antonie Roux said they were planning to integrate M-Web with the M-Group's subscription and media platforms. "In this way we will be able to expand our subscribers' experience seamlessly to television and other services," he said.

      Meloy Horn, an analyst at Merrill Lynch, said Naspers' strategy was not dissimilar to the realignment of internet assets by media companies globally.

      "The management realised that shareholders were unlikely to follow their rights in the event of a planned rights issue to recapitalise the company," she said.

      "As a result the responsibility for the continued funding of MWeb would have resided with Naspers and MIH in any event. Therefore the listing of M-Web became unnecessary," Horn said.

      This step, Horn said, also avoids a forced delisting as it became probable that M-Web's free float would have dropped to below the 20% threshold after a rights issue.

      Another analyst said M-Web had been costing Naspers a lot of money, and with the negative sentiment surrounding internet companies, it was never going to be able to raise money on its own. Over the past three months M-Web had to reduce expenses through retrenchments and by cutting input costs.

      Roux said that in the event of a delisting, M-Web shareholders would swap their shares for those of Naspers.

      Based on current market prices, the offer is expected to have a small effect on Naspers' number of shares outstanding. Less than 4% new Naspers shares are expected to be issued.

      An independent adviser would be appointed to determined the value and the ratio of the shares, Roux said.

      M-Web's financial director, Rudi Jansen, said sales were starting to pick up. A slight drop in sales was experienced after the launch of Absa's free service.

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