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Naspers Plans New Listing of Pay-TV Unit to Focus on Internet

  • Multichoice business worth about $6.6 billion, analyst says
  • Africa’s biggest company has been looking to separate units
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Naspers Ltd. is planning to list its pay-TV unit in Johannesburg, spinning off a business it developed over three decades as Africa’s most valuable company focuses on its fast-growing internet investments.

The split will take place in the first half of next year, Chief Executive Officer Bob Van Dijk said on a call with reporters after the announcement on Monday. Naspers shares trade at a steep discount to its most important asset -- Chinese internet giant Tencent Holdings Ltd. -- and Van Dijk said two months ago he may separate parts of the company to boost shareholder value.