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Latest Satellite News Discussion, ZON= share buyback leads to African DTH adventure at General Satellite News forum; ZON= share buyback leads to African DTH adventure Portuguese cablenet ZON Multimedia is to launch a DTH satellite platform serving ...

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Thumbs up ZON= share buyback leads to African DTH adventure - 22-December-2009, 21:50

ZON= share buyback leads to African DTH adventure


Portuguese cablenet ZON Multimedia is to launch a DTH satellite platform serving Angola following a share sale and purchase agreement with Kento Holding Limited.

The company, controlled by businesswoman Isabel dos Santos, has acquired 4.53% of ZONs share capital at 5.3 per share, representing a 18.9% premium over the traded shareprice in the last three months. The shares had been acquired by ZON through a share buyback scheme.

ZON=s expansion into Angola comes through a 30% participation in a new joint venture with SOCIP (Sociedade de Investimentos e Participaes S.A), a company wholly-owned by dos Santos.

The= proposed satellite platform will take capacity on the Eutelsat W7 satellite launched on November 24. Negotiations are underway with a number of content providers that will include versions of ZONs TVCine premium movie channels, four channels included in the Dreamia partnership with Chellomedia; Hollywood, Panda, Panda Biggs and MOV, and the premium sports channel SportTV.

ZON already runs a satellite platform in Portugal, serving as a gap-fill to its domestic cable network=



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