Growth in operating profit from continuing operations, coupled with additional proceeds from the sale of Nashua Mobile subscribers and interest earned on the full proceeds, have underpinned Reunert’s results in the six months ended March 2015
Browsing: Reunert
JSE-listed technology group Altron is in advanced-stage discussions to sell the mobile subscribers of Altech Autopage. It’s a move that comes just a year after Nashua Mobile, owned by Reunert, concluded a similar transaction. Altron has been
French telecommunications giant Orange plans to launch its own-branded retail stores in South Africa before the end of the year and intends launching an Internet service provider business here, too. Until now, Orange has had a retail presence through Nashua Mobile outlets, but the future of this partnership was thrown into doubt earlier this year when
Altech Autopage, the independent cellular service provider in the Altron stable, plans to acquire 65 000 Cell C subscribers from rival Nashua Mobile for R91,5m (plus VAT). The deal comes just weeks after Nashua Mobile’s parent, Reunert, announced it was selling the company’s Vodacom and MTN subscribers to the two mobile network operators
Profits at Nashua Mobile plunged by 41% year on year in the six months to 31 March 2014, falling from R101,8m to R60,4m, parent Reunert disclosed in its interim results on Tuesday. This was on the back of a 2% decline in revenue, from R1,85bn to R1,81bn, at the independent cellular service provider, whose customer base Reunert has
Altron intends hanging tough with subsidiary Altech Autopage. The diversified technology group’s CEO, Robbie Venter, says it has no plans to sell Autopage or its million-strong subscriber base after rival Reunert announced in April that it would sell Nashua Mobile’s base. The decision by Reunert means Autopage will soon be the last
If there was anyone still doubting that the price war, triggered in part by communications regulator Icasa’s cuts in call termination rates, is starting to take its toll on South Africa’s mobile industry, they would have been disabused of that notion this week with the news that the Reunert-owned Nashua Mobile is to close down. As many as 600 people
Altron is keeping mum about the future of subsidiary Altech Autopage Cellular in the wake of news this week that the cellular service provider’s most direct rival, Reunert’s Nashua Mobile, has decided to sell off its customer base and close up shop. All Altron will say when contacted by TechCentral is that the JSE-listed group
Retrenchments at Nashua Mobile are inevitable following the decision to sell its customer base and to close the business, but parent Reunert says “all options are being considered” to find places for them within the rest of the JSE-listed group and in the broader industry. That’s the word from Reunert spokesman Carina de Klerk
Service provider Nashua Mobile has agreed to sell its MTN and Vodacom subscriber bases to the two mobile operators and is in talks to sell its Cell C subscriber base, too, parent Reunert told shareholders on Monday. Nashua Mobile will receive almost R2,3bn from the sale, before VAT. It appears that the two big mobile