Datatec’s share price is in the dumps and the management team, led by CEO Jens Montanana, is thinking big to find ways of unlocking value.
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Datatec will return up to US$500m to shareholders in the form of a special dividend and/or share buybacks after the Johannesburg- and London-listed technology group completed the sale of its
Datatec shares jumped by the most on record after the South African IT services company agreed to sell the North and Latin American operations of its Westcon-Comstor business for as much as $800m
Datatec said on Tuesday that it has reached an agreement to sell subsidiary Westcon-Comstor’s operations in North America and Latin America for up to US$800m and 10% of Westcon-Comstor for $30m to US-listed IT supply