MARC HASENFUSS: A hot number
Quick flash at the goings on at three companies: AEEI, Combined Motor Holdings and ELB Group
Valuing telecoms enterprises can be contentious at the best of times. So it’s fortuitous to be able to scan through the African Rainbow Capital (ARC) Investments prelisting documentation as well as the latest Remgro investor presentation. ARC has a 20% investment in Rain, a "full-service" mobile network operator focusing on data as a primary offering. ARC’s prelisting documentation notes that to date Rain has rolled out more than 1,400 sites and more than 1,500 base stations, and has interconnected all the major metros, spanning over 20 points around SA. It states further that Rain is on track to meet a target of 2,000 sites by the end of 2017; 5,000 by the end of 2018; and 10,000 in the coming years. This infrastructure will eventually facilitate an environment in which open access to the Internet becomes a reality in SA. ARC, which is investing in two tranches, is spending about R1.7bn for a 20% stake. This infers a value of R8.5bn for Rain, which has some way to go before fundame...
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.