STAKE SALE
Remgro in talks to offload Dark Fibre
Remgro and investment partner New GX Capital are said to be seeking as much as R10bn for the asset
Remgro is in talks to sell broadband provider Dark Fibre Africa to a company owned by Nippon Telegraph and Telephone of Japan, according to three people familiar with the matter. Remgro, which owns 51.9% of the business, and investment partner New GX Capital were seeking as much as R10bn for the asset, said the people, who asked not to be identified as the talks are private. The potential buyer was Internet Solutions, a unit of Nippon-owned IT services provider Dimension Data, they said. For Remgro, the cash injection could be used to repay debt and fund future acquisitions, said one of the people. The acquisition of Remgro’s stake would give Internet Solutions access to as much as 10,000km of fibre networks, which will help the telecommunications provider extend broadband access in Johannesburg, Cape Town and Durban. Dark Fibre is SA’s largest fibre-network company after Neotel, which was itself taken over by Econet Wireless Global affiliate Liquid Telecommunications in 2016 for R6...
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