WBS, the parent company of iBurst, is currently in discussions with three different players regarding a possible deal, and is considering one offer made to the company. This is according to WBS director David Hilewitz.
The company was previously linked to acquisition talks with Dimension Data and MTN, but Hilewitz said that the current offer is not from either of these companies.
Hilewitz made it clear that no deal has been concluded, and that they are not even certain whether they want to sell the company.
“We are really comfortable owning WBS/iBurst,” said Hilewitz, adding that the company is EBIDTA and cash flow positive.
With iBurst’s valuable assets – notably its spectrum and extensive network – it is not surprising that it is an acquisition target for many telecoms players in South Africa.
An acquisition, however, is only one of the options which WBS is considering. Hilewitz said that they are also looking at building an LTE network using their spectrum, and then partnering for the use of this network.
Thami Mtshali stepping down as iBurst CEO
WBS shareholder Thami Mtshali stepped down as iBurst CEO recently, and was replaced in an acting capacity by Clinton Holroyd.
Hilewitz said that Mtshali’s departure was very amicable, and that he remains a large shareholder in WBS and a director at the company.