Telecommunications provider Huge Group has called off a plan to acquire ICT specialist Centracom for R81,6m, saying it was unable to reach agreement with “relevant shareholders” about a funding arrangement to make the deal happen. A memorandum of agreement between
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JSE-listed alternative telecommunications provider Huge Group has signed a memorandum of agreement in terms of which it intends acquiring 100% of specialist ICT company Centracom for R81,6m. Most (90%) of the proposed acquisition will be settled through
An investment in Adapt IT over the past three years or, even better, over five years would have paid off handsomely. The IT counter has proved to be by far the best performer among technology and
Telecommunications player Huge Group is considering as many as three acquisitions, with one of them potentially worth as much as US$100m (more than R1,2bn), as it seeks to play a leading role in the consolidation of the industry in South Africa. The company has
JSE-listed telecommunications company Huge Group on Tuesday warned shareholders that it is in discussions about a strategic acquisition, cautioning that the deal is big enough to require their
Huge Telecom parent Huge Group has lifted headline earnings per share year on year by 51,5% for the six months ended August 2014. However, revenue has fallen to R99m from R106,7m before. Operating profit was R8,9m, up from R8,3m a year ago, while net profit was R7,4m, up sharply from
Huge Group CEO James Herbst and former chairman Anton Potgieter have had fines of R5m levied on each of them by the JSE reduced to R3m following a contestation of the bourse’s decision at the Appeal Board of the Financial Services Board. In November 2009, the JSE imposed the fines after it
Alan Knott-Craig has played his first card since being appointed as CEO of Cell C on 1 April. The operator has released a new least-cost routing (LCR) product, called LCRAnyNet, that Knott-Craig says will “reduce the cost of telecommunications for business and will bring down the barrier for small
Despite turning in a R16,9m loss in the financial year to 28 February 2011 and facing a R30m lawsuit from MTN, JSE-listed telecommunications specialist Huge Group says it is confident it will survive the
The JSE said on Monday that telecommunications company Huge Group had 10 days to release its results or face suspension of termination of its listing. Huge Group was meant to publish its results by the end of May. The JSE warned that Huge Group and