MWEB up for auction

5 Jun 2008

Naspers is selling its South African ISP MWEB by auction, and hopes to push through a deal within nine months. Naspers claims MWEB is being sold as it does not fit in with its core business strategy – being its only ISP subsidiary.

MWEB CEO Rudi Jansen said the ISP had a turnover of nearly ZAR1 billion (USD129 million) in 2007 and over 320,000 dial-up and broadband customers in the home and business market with over 25% market share in South Africa.

Altech has been rumoured as a potential buyer of MWEB to support its plans to obtain a WiMAX licence but there has been no confirmation from the company.

South Africa, MWEB (South Africa)