Monaco Telecom sells Afinis to SkyVision for USD3.3m

6 Aug 2012

Cable & Wireless Communications (CWC) has announced that its subsidiary Monaco Telecom has sold its African VSAT business Afinis Communication to SkyVision Global Networks for a total cash consideration of USD3.3 million. Afinis incorporates Monaco Telecom’s African satellite services, previously known as Connecteo. The operator provides mission critical satellite communication services to corporate customers active in the oil, gas, mining, banking and telecoms industries. It has a presence in Algeria, Benin, Burkina Faso, Cameroon, Guinea and Niger. SkyVision is an IP telecoms provider, with operations in Nigeria and east, central and southern Africa, amongst other locations. The sale of west-Africa-focused Afinis to SkyVision will increase the scale and market presence of the latter’s business. Tony Rice, CEO of CWC, commented: ‘The sale of Afinis represents another step in reshaping the group and ensuring our portfolio is aligned to our wider strategic priorities.’

Monaco, Cable & Wireless Communications (CWC, incl. Columbus Int.), Monaco Telecom