Vox agrees to acquire Investec as part of a ZAR2bn recapitalisation

5 Sep 2019

Telecommunications company Vox Telecom has agreed to buy out fellow investor Investec as part of a ZAR2 billion (USD134 million) recapitalisation of the company, TechCentral writes. Vox CEO Jacques du Toit revealed that Metier Private Equity and Vox Telecom’s management are also part of the transaction. The group will then look to accelerate its fibre rollout outside of South Africa’s main cities and to the country’s small businesses. The executive said: ‘Based on the current growth rate that Vox is experiencing, the majority of our shareholders decided not to sell the business … Additional investment will be focused on accelerating our growth strategies.’ Investec was part of a group that bought Vox for ZAR452 million in 2011, and owns about one third of the company.

South Africa, Vox Telecom