A unit of Remgro has bought part of fibre provider Vumatel, as SA’s richest man seeks a greater share of the expanding broadband network. Community Investment Ventures Holdings (CIVH), in which Johann Rupert’s investment vehicle is the biggest shareholder, took a 35% stake in the fibre provider and has agreed to take full ownership at a later date, it said in an e-mailed statement on Friday. The company did not say how much it would pay. CIVH already owns Dark Fibre Africa, which has a network of about 10,000km of fibre, and the plan is to combine the two businesses, director Peter Uys said by phone. While the new entity could consider a stockmarket listing if it needs to raise funds, there are no plans at this point, he said. Higher speeds "We have been very successful in building an extensive fibre network and by buying Vumatel we will accelerate our fibre-to-the-home business," he said. Vumatel, which helped to pioneer the fibre-to-home industry in SA after entering the market in...
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