How much Internet Solutions paid for MWEB

Naspers has revealed how much it received from the sale of internet service provider, MWEB, to Internet Solutions (IS) through its parent company Dimension Data.

Naspers has released its financial results for the year ended 31 March 2017, showing that it received $10 million (R130 million) for MWEB.

IS said in May that the acquisition presents opportunities for growth through MWEB’s customer base and infrastructure.

It said the integration will cause minimal disruption to clients and employees.

In 2014, Dimension Data paid R368 million for MWEB Business, and Optinet Services and Network Divisions.

Naspers noted that the transaction of $10 million involved the last tranche of what was still owned by Multichoice SA.

In 2016, MTN disposed of its 50.02% shareholding in ISP, Afrihost, for R325 million, having bought a controlling stake in the company in 2014 for R408 million.

Read: Internet Solutions completes MWEB acquisition

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How much Internet Solutions paid for MWEB