Altron sells mobile subscriber base to Vodacom, MTN, Cell C

JSE-listed Allied Electronics Corporation (Altron) is planning to sell off the mobile subscriber base of its wholly-owned subsidiary Altech Autopage Cellular, estimated at roughly one million, to Vodacom, MTN and Cell C for a combined total of ZAR1.5 billion (USD107.7 million), TechCentral reports. In addition, MTN has agreed to purchase Autopage’s handset receivables book pertaining to its subscriber base for a purchase price of approximately ZAR219 million. Altron said that his mobile unit experienced a tough market and the ongoing mobile termination rate (MTR) reductions compelled it to make the decision to dispose of the GSM subscriber base and shut down the business. The deals are subject to customary regulatory approvals.