G-Connect management makes offer to buy the business

The management team of WirelessG, trading under the brand G-Connect, has made an offer to buy the business.

The offer to buy comes after WirelessG – which provides a variety of Wi-Fi services – successfully filed for business rescue in 2015.

“We are following a very challenging and detailed multi-facet rescue approach, meaning that we need to realign our entire internal environment more effectively with our external environment,” said then-CEO Carel van der Merwe.

The announcement of the business rescue plan came after Vodacom temporarily cut off all G-Connect’s hotspots – including in-flight Wi-Fi on Mango aircraft and other hotspots.

Negotiations

WirelessG, through its business rescue practitioner, told MyBroadband that since the company went into business rescue on 6 August 2015, it has traded reasonably well.

“We were mandated by the creditors to sell the business as part of the business rescue. We have been unable to do so at a reasonable price,” said the company.

“Management have made an offer which is being negotiated. No contracts have been signed as yet and no details have been finalised.”

It said business will continue as usual with operators and customers, and that once the details of an acquisition have been finalised, a formal announcement will be made.

Now read: Liquid Telecom appoints Chief Business Development Officer

Latest news

Partner Content

Show comments

Recommended

Share this article
G-Connect management makes offer to buy the business