Will Rupert offload fibre networks?
Publish date: 27 November 2019
Issue Number: 1809
Diary: Legalbrief eLaw
Billionaire Johann Rupert who controls luxury-goods giant Richemont, is considering selling stakes in two SA fibre networks valued at as much as $1.5bn. Business Tech reports that he is working with an adviser to gauge interest from potential investors in buying stakes in Vumatel Pty and Dark Fibre Africa Pty, sources have revealed. Bidders could include local telecommunications companies as well as infrastructure funds. Vumatel helped pioneer the country’s fibre-to-the-home industry, while Dark Fibre operates over 10 000km of high-speed network infrastructure.