Naspers reportedly in talks to sell VAST networks

[Jamie McKane]

Naspers reportedly in talks to sell VAST networks

Naspers Ltd. and a South African unit of Nippon Telegraph & Telephone Corp. are in talks to sell their joint venture in the country to fiber-optic infrastructure company Link Africa, according to three people familiar with the matter.

Investec Ltd. is managing the sale of VAST Networks, for which Link has offered 450 million rand ($33 million), said the people, asking not to be identified because the details are private. The deal is not yet final and terms could change, said two of the people.

[Bloomberg]

 

[Polymathic]

Naspers seems to be shedding thier South African assets

 

[Nobody Important]

Naspers seems to be shedding thier South African assets

They have lost a tremendous amount of value since so much of their value was held in Tencent stock, so now I think they have to tighten belts and sell off projects in order to reduce spend.

 

[lawries72]

VAST have 5G capable cell towers? I don't think so.

 

[Happy Days]

VAST have 5G capable cell towers? I don't think so.

No, VAST is looking to possibly provide back-haul to the 5G towers using their fiber network.

 

[Swa]

WiFi in SA has lost the plot. What's the use when it's similar or more expensive than cellular which is easier to use and more readily available.

 

[Chris.Geerdts]

I think VAST has a good network asset. They have tried, but haven't been able to get customers to spend adequately beyond the free allocations