Telecommunications company Huge Group has secured the backing of more than three-quarters of its shareholders for its R795-million pursuit of JSE-listed software services group Adapt IT, it said on Monday.
Browsing: James Herbst
Huge Group has launched a takeover bid for fellow JSE-listed technology company Adapt IT. The all-share bid, at an offer price of R5.52/share, does not enjoy the explicit support of Adapt IT’s board.
JSE-listed telecommunications specialist Huge Group has applied to list on the London Stock Exchange’s Alternative Investment Market, it said on Monday.
Huge Group subsidiary Huge Cellular has asked former partner Cell C to give it more time to migrate the remaining 15% of customers it hasn’t yet ported to MTN South Africa’s network. Cell C said it won’t get it.
Relations between Cell C and its soon-to-be-former client Huge Group have reached rock bottom, with the former claiming it’s owed R60-million by the latter and the latter saying it’s actually the one that’s owed money “morally”.
JSE-listed telecommunications specialist Huge Group said on Monday that it has partnered with MTN South Africa to provide additional GSM voice services to its subsidiary companies.
Huge Group CEO James Herbst and chief operating officer Andy Openshaw are in line for a share options windfall, if the proposal is approved by shareholders.
JSE-listed telecommunications company Huge Group has acquired a shareholding in Pansmart, an authorised distributor of Panasonic voice, video and CCTV products in South Africa.
Huge Group is acquiring Otel in a share-swap deal involving its subsidiary, Huge Networks, the JSE-listed telecommunications specialist said in a statement to shareholders after markets closed on Thursday.
Huge Cellular is taking Cell C to court seeking urgent interim relief preventing the mobile operator from suspending services at the end of this month that could cut off the telephone lines of thousands of clients.