Naspers has released its financial results for the year ended 31 March 2015, which reveal that Dimension Data paid R368 million for MWEB Business, and Optinet Services and Network Divisions.
On 22 September 2014, Internet Solutions, a division of Dimension Data, announced it had signed a transaction agreement to purchase the three assets from MWEB Connect.
After the deal with Dimension Data, MWEB became a consumer-focused Internet service provider.
MWEB has also entered into a Wi-Fi business venture with Dimension Data by contributing its Wi-Fi division to a joint venture in exchange for a 49% shareholding.
“An aggregate loss on disposal of R219 million has been recognised in the income statement following the transactions,” said Naspers.
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