Rupert’s Remgro in talks to buy fibre provider Vumatel
Remgro is in advanced talks to buy fibre provider Vumatel as SA’s richest man looks to consolidate the country’s expanding broadband infrastructure industry, according to people familiar with the matter. A deal by billionaire Johann Rupert’s investment vehicle would give an equity value of closely-held Vumatel of about R1.1bn, said the people, who asked not to be identified as the talks are private. Rupert would then combine Vumatel with rival Dark Fibre Africa, in which Remgro owns a majority stake, the people said. The deal could still fall through, and, if so, Vumatel would consider selling shares on the JSE, they said. A spokesperson for Dark Fibre declined to comment. A spokesperson for Remgro said she didn’t have an immediate comment and Vumatel couldn’t immediately be reached for comment. The deal would allow Dark Fibre, which has a network of about 10,000km, to expand into SA’s fast-growing fiber-to-home industry, which Vumatel helped pioneer after entering the market in 201...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.