Altech, a subsidiary of Altron, plans to sell its Liquid Telecom stake, acquired in January 2013, to Econet Wireless, Liquid’s parent company. The 8,6% stake will be sold to Econet for US$55m, giving Liquid an implied value of $640m. Altech says it is exercising this option because the stake
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Five years after media giant Naspers put MWeb up for auction unsuccessfully, corporate action involving the Internet service provider may again be looming. According to a well-placed industry source, Dimension Data and Naspers have been engaged in talks about merging MWeb and Dimension Data
A showdown between Telkom and its regulator, the Independent Communications Authority of South Africa (Icasa), may be on the cards over local-loop unbundling (LLU), with newly appointed Icasa CEO Pakamile Pongwana warning that unbundling may be necessary to promote
Diversified industrial and technology group Altron has reported a 4% improvement in headline earnings per share (HEPS) in the six months ended 31 August 2013, rising from 79c a year ago to 82c in the latest reporting period. This was on the back of an 8% increase in revenue from continuing operations
JSE-listed technology group Altron is creating a new technology, multimedia and IT (TMT) division to house subsidiaries Altech and Bytes. It will be headed by Altech CEO Craig Venter, with Bytes CEO Rob Abraham reporting to Venter. Previously, Abraham reported to
Former Altech executive Wayne de Nobrega has quietly taken the reins at Sithabile Technology Services, a systems integration company that specialises in data storage, recovery and backup. De Nobrega, who sold his business
Altech’s minority shareholders on Friday gave the nod to Altron to buy them out. The move has cleared the way for Altron to terminate Altech’s listing on the stock exchange in Johannesburg. Altron already holds 61% of Altech. It’s the second attempt in six years by Altron, which
After 38 years as a publicly traded company, Altech will terminate its listing on the JSE on 20 August, provided it gets the support of shareholders for the move, the technology group, which is controlled by Altron, said on Thursday. Last month, Altron announced that it intended to buy out minority
After decades of promising it, the department of home affairs is finally moving ahead with its plans to replace South Africa’s green, bar-coded identity books with new-fangled ID cards. And the technology built into the new cards, supplied by international digital security specialist Gemalto, is pretty neat
Green, barcoded identity books will be replaced with identity smart cards from July, home affairs minister Naledi Pandor said on Thursday. “We will begin with the issuing of the cards to new applicants and those who need reissuing of identity documents from July this year,” she told reporters in Pretoria. Altech Card Solutions had