Mmegi

A rare hostile takeover grips the market

Landmark: PrimeTime has several well-known assets around the country PIC: PRIMETIME.CO.BW
Landmark: PrimeTime has several well-known assets around the country PIC: PRIMETIME.CO.BW

The Botswana Stock Exchange this week froze RDC Properties’ bid for PrimeTime, while launching an investigation into “various aspects” of the offer. The planned hostile takeover has lit up a usually humdrum market, writes MBONGENI MGUNI

A committee of the Botswana Stock Exchange (BSE) has launched an investigation into RDC Properties’ attempted hostile takeover of PrimeTime, with a report due to be released in 30 days.

In the meantime, the offer circular that RDC was scheduled to publish to PrimeTime’s shareholders, has been put on hold, effectively freezing the proposed offer, at least until the BSE makes a decision.

Editor's Comment
Our digital safety is in our hands

That sounds like good news. But the report also warns that this may simply be because our digital economy is still young, not because we are safe. As more people shop, bank and pay online, criminals will follow.We Batswana do not need a report to tell us that danger is real. Many of us have heard of or fallen victim to KYC scams. A caller impersonates your bank or mobile money provider. They say they need to “verify” your account. They ask...

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