Vox acquisition deal update
Vox Telecom CEO, Jacques du Toit, says that the process for a potential acquisition of the company is 60% complete.
Du Toit was speaking at the 2014 MyBroadband Conference in Midrand on Tuesday (30 September).
Vox Telecom is one of the only remaining large telecoms operators and Internet Service Providers (ISPs) in South Africa which has not been acquired by a larger operator.
“The process is 60% of the way,” du Toit said when questioned about the company’s plans for a potential take-over deal.
The chief executive said that the deal would include a mix between private equity players and international players, with a deal concluded before the end of the year.
MyBroadband reported in July, that Vox Telecom sent out information to a number of local and international companies who expressed an interest in putting in a bid to acquire the telecoms operator.
It is understood that the proposed acquisition will be for 100% of Vox Telecom.
The company was established in 1998, and currently offers voice, data, and collaboration services to the Southern African market.
Vox Telecom competes in both the business and consumer sectors and has primary offices in Johannesburg, Pretoria, Durban, Cape Town, and Port Elizabeth as well as in Windhoek, Namibia.
The group’s main shareholders are Investec, Lereko Metier Capital, and RMB.
According to du Toit, Vox would aim to take on the big local players in the market.
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