Investec and RMB said to be interested in selling Vox Telecom
Rand Merchant Bank and Investec were part of a consortium that bought Vox for R452m in 2011
Vox Telecom shareholders are looking to sell the fibre-network provider for about R3bn to take advantage of consolidation in the industry, according to two people familiar with the matter. Owners including FirstRand’s Rand Merchant Bank (RMB) and lender Investec saw an opportunity to exit, said the people, who asked not to be identified as the plans were not public. That is after a unit of Remgro, the investment vehicle of Johann Rupert, bought part of fibre provider Vumatel earlier in June, showing that there was appetite for deals in the industry. Fibre-to-home is booming in SA’s biggest cities as new entrants and infrastructure bring down the cost of high-speed internet. Vox, RMB and Investec declined to comment. RMB and Investec were part of a consortium that bought Vox for R452m rand in 2011. The owners considered a share sale on the JSE in 2014, but did not attract a valuation at which they wanted to sell. The company has since invested in expanding and building its services, ...
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