If I signed I was drunk or asleep, says media businessman

A BUSINESSMAN who alleges his 20% shares in an entity he created were sold without his consent – and signature – to increase Kagiso Media’s shareholding in a Johannesburg-based radio station says he has not seen a cent of that money.

Sibusiso Peter-Paul Ngwenya said his Columbia Media bought 20% of Tsiya Radio and the latter then, through their investment vehicle Shanike, sold the 24.9% that it held at Kaya FM to Kagiso Media in 2011 without him knowing.

Up to this day, Ngwenya said he had never received any money for his shares.

“I hear rumours that the shares were sold to