South African telecoms operator Vodacom will sell part of its Gateway unit to Hong Kong-based PCCW for US$26.4m in cash.
Gateway provides backhaul services using satellite capacity, but also subsea cables, wireless and fibre connectivity.
The deal…
South African telecoms operator Vodacom will sell part of its Gateway unit to Hong Kong-based PCCW for US$26.4m in cash.
Gateway provides backhaul services using satellite capacity, but also subsea cables, wireless and fibre connectivity.
The deal covers Gateway Communications’ operations in Belgium, the UK, France and Mozambique, as well as the supplier agreements and assets of Gateway Communications Africa.
ICT company PCCW also provides international voice, satellite and data connectivity services globally. In a statement, it said “it has recently entered into arrangements to provide these services to Vodacom – and as part of these arrangements will acquire certain relevant assets from Vodacom – to help it serve Vodacom’s communication needs.”
Vodacom had bought Gateway in 2008 for US$675m in order “to reposition itself as a leading pan-African provider of communications services and to diversify from its current status as primarily a mobile-centric network operator,” Pieter Uys, Vodacom CEO, had said at the time.
