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A group led by Sekunjalo Investments Ltd. (SKJ) Chairman Iqbal Surve made a 2.4 billion-rand ($294 million) bid for Independent News & Media Plc (INM)’s South African unit, Business Report said, citing a person familiar with the talks.
Surve declined to confirm the offer, which was said to be underwritten by a global investment bank, the Johannesburg-based newspaper reported.
Independent News & Media is in talks with lenders over a possible debt refinance and will make an announcement on its local unit within a month, Business Report said.
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