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Africa’s biggest broadband network owner considers share sale

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Liquid Telecom, one of?Econet Wireless Global Ltd., is considering an acquisition of shares on the wall street game after completing the $500 million getting Neotel Pty Ltd. for making the best broadband network in Africa.

“A possible listing could well be most likely,” Founder Nic Rudnick said within a interview in Johannesburg on Thursday. “At the minute i am dedicated to the combination on the acquisition and allowing it to be profitable.”

The bourse plus the timing of a potential listing weren’t decided, the CEO said. This company, founded and run by Zimbabwean businessman Strive Masiyiwa, has arranged the $500 million financing had to complete the Neotel acquisition?from Tata Communications Ltd. of India and reduce the company’s debt, in accordance with Rudnick.

Liquid Telecom wanted to buy Neotel in June alongside Royal Bafokeng Holdings, a South African empowerment investment group. The closely held company pounced after Vodacom Group Ltd. abandoned its bid to buy Neotel after almost two years of regulatory battles. The investment gives Liquid access to South African businesses and houses about 40,000 kilometers (25,000 miles) of cross-border fiber networks.

Royal Bafokeng can take a Thirty percent stake in Neotel and assist with recapitalise this company. Empowerment firms usually are black owned and look benefit from a South African government initiative to generate up those discriminated against during apartheid.

? 2017 Bloomberg

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