Remgro buys Vumatel

Community Investment Ventures Holdings (CIVH) has acquired 34.9% of Vumatel for an undisclosed amount.

The company has also entered into an agreement with Vumatel shareholders to acquire the remaining 65.1% of Vumatel, subject to funding and regulatory approvals.

CIVH is owned by a group of investors – Remgro, New GX Capital Holdings, Chlanich, Community Investment Holdings (CIH), and Consolidated Capital Investments.

CIVH’s investment in Vumatel complements the group’s existing portfolio, comprising wholly-owned subsidiary Dark Fibre Africa (DFA).

Fibre plans

The announcement follows a MyBroadband report in May that CIVH was in discussions to acquire Vumatel.

Vumatel has built one of the largest open access fibre networks in South Africa, with a strong focus on fibre-to-the-home services.

Vumatel also recently completed planning for the first phase of its fibre network build for Alexandra.

Announced in September 2017, Vumatel plans to offer uncapped fibre  services to the residents of Alexandra for R89

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