Liquid Telecom considering sale of shares
African subsidiary of Econet Wireless has also completed its takeover of Neotel from Tata Communications
Liquid Telecom, a unit of Econet Wireless Global, is reported to be considering a sale of shares, following its successful purchase of Neotel.
This would create the largest broadband network operator in Africa if it went ahead.
Nic Rudnick, CEO, Liquid Telecom said: “A possible listing would be very likely,” in an interview with Bloomberg in Johannesburg last week. “At the moment we are focused on the integration of the acquisition (of Neotel) and making it a success,” he said.
The exchange or the timing of a potential listing has not been decided, he said.
The company has arranged $500 million of finance to complete the Neotel acquisition from Tata Communications and reduce the company’s long-term debt said Rudnick.
Neotel gives Liquid access to a large tranche of South African businesses and domestic properties and approx 40,000 kilometres of fibre networks across the continent.