{"id":197264,"date":"2017-09-07T18:00:45","date_gmt":"2017-09-07T16:00:45","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=197264"},"modified":"2017-09-07T16:52:20","modified_gmt":"2017-09-07T14:52:20","slug":"rescue-plan-for-g-connect-as-management-makes-buyout-offer","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/internet\/197264\/rescue-plan-for-g-connect-as-management-makes-buyout-offer\/","title":{"rendered":"Rescue plan for G-Connect as management makes buyout offer"},"content":{"rendered":"

The management team of\u00a0WirelessG, trading under the brand G-Connect, has made an offer to buy the business.<\/p>\n

The offer to buy comes after WirelessG \u2013 which\u00a0provides a variety of Wi-Fi services \u2013 successfully filed for business rescue<\/strong><\/a> in 2015.<\/p>\n

\u201cWe are following a very challenging and detailed multi-facet rescue approach, meaning that we need to realign our entire internal environment more effectively with our external environment,\u201d said then-CEO Carel van der Merwe.<\/p>\n

The announcement of the business rescue plan came after\u00a0Vodacom temporarily cut off<\/a><\/strong>\u00a0all G-Connect\u2019s hotspots \u2013 including in-flight Wi-Fi on Mango aircraft and other hotspots.<\/p>\n

Negotiations<\/strong><\/p>\n

WirelessG, through its business rescue practitioner, told MyBroadband<\/a><\/strong> that since the company went into business rescue on 6 August 2015, it has traded reasonably well.<\/p>\n

\u201cWe were mandated by the creditors to sell the business as part of the business rescue. We have been unable to do so at a reasonable price,\u201d said the company.<\/p>\n

\u201cManagement have made an offer which is being negotiated. No contracts have been signed as yet and no details have been finalised.\u201d<\/p>\n

It said business will continue as usual with\u00a0operators and customers, and that once the details of an acquisition have been finalised, a formal announcement will be made.<\/p>\n

\n

Read: Liquid Telecom wins approval to purchase Neotel for R6.55 billion<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The management team of WirelessG, trading under the brand G-Connect, has made an offer to buy the business.<\/p>\n","protected":false},"author":31,"featured_media":6637,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9882],"tags":[],"class_list":["post-197264","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/197264","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=197264"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/197264\/revisions"}],"predecessor-version":[{"id":197298,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/197264\/revisions\/197298"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/6637"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=197264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=197264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=197264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}