|
JOBS | INSURANCE | PROPERTY | SHOPPING |
|
|
THE SMART NEWS SOURCE | Mar 15 2010 01:58 | LAST UPDATED Mar 15 2010 01:58 |
|
South African fixed-line telephone group Telkom has agreed to buy all of MWeb Africa and a 75% stake in MWeb Namibia from Naspers for R610-million, it was announced on Monday. These shareholdings will be acquired from MultiChoice Africa Limited and MIH Holdings Limited respectively, which are members of the Naspers Limited Group. MWeb Africa is an internet service provider in sub-Saharan Africa (excluding South Africa) and also provides network access services in some countries. Although its operations are largely focused on corporate customers, MWeb Africa's predominantly satellite-based internet access offerings allow the company to reach a wide range of customers, many of whom are not reached by traditional fixed-line infrastructures. The MWeb Africa group is headquartered in Mauritius, with operations in Namibia, Nigeria, Kenya, Tanzania, Uganda and Zimbabwe, an agency arrangement in Botswana and distributors in 26 sub-Saharan African countries. The successful conclusion of the agreements being entered into is subject to conditions precedent, including regulatory approvals being obtained in certain African jurisdictions. The transaction forms part of Telkom's stated strategy of expanding into Africa through acquisitions of mobile companies and IT companies following the deal to sell part of its stake in Vodacom and spin off the rest to shareholders last week. Meanwhile, Naspers is no longer selling its local internet service provider, MWEB South Africa. "Given economic conditions globally and the contraction in credit markets, shareholders are also advised that Naspers has terminated the auction process for the disposal of MWeb South Africa," it said in statement to the JSE. -- I-Net Bridge  CONTINUES BELOW TOPICS IN THIS ARTICLE
Comments
click here to log in
M&G Online Comment Guidelines In Brief
Advertising Links
|
Find all your Unisa books you require for your studies and get them delivered right to your doorstep!
It's sale time again with fantastic savings on 1 000s of titles. Get some of the best books at discounted prices now.
46 000 DVDs and Blu-Ray Dics to choose from. Get up to 60% off at the Orange Sale.
100s of new releases now in stock! Sade, Foo Fighters, John Mayer & more!
Lots of Toys, free gift wrap, lowest prices on Lego Mindstorm, Ben 10, Hannah Montana & more!
AdvertisementsAdvertising links |
|||||||||||||||||||||||||||||||||||||||||||||||||||
0 comments
Make us your home page | Add our headlines to your site | Desktop news with NewsFlash
Contact us | About us | Story tip-offs | Online advertising | Print advertising | Subscriptions | Topics A-Z | Corrections | Mobile sites
All material © Mail & Guardian Online. Material may not be published or reproduced in any form without prior written permission.
Read the site privacy policy and Ispa code of conduct relating to our blog hosting.
RSS feed
This site is proudly hosted by Internet Solutions. We are a member of the Online Publishers Association.
Contact us | About us | Story tip-offs | Online advertising | Print advertising | Subscriptions | Topics A-Z | Corrections | Mobile sites
All material © Mail & Guardian Online. Material may not be published or reproduced in any form without prior written permission.
Read the site privacy policy and Ispa code of conduct relating to our blog hosting.
RSS feed
This site is proudly hosted by Internet Solutions. We are a member of the Online Publishers Association.
 |  |  |