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Vox Investors to Buy Out Investec in $130 Million Deal

  • South African fiber operator looks to expand in smaller towns
  • Rand Merchant Bank, Metier increasing their Vox shareholding
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Photographer: Jason Alden/Bloomberg
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Vox Telecom SA shareholders including FirstRand Ltd.’s RMB agreed to buy out fellow investor Investec Ltd. as part of a 2 billion rand ($130 million) recapitalization for the South African fiber-network operator.

Metier Private Equity Ltd. and the internet company’s management are also part of the transaction, Vox Chief Executive Officer Jacques du Toit said by phone. The group will then look to accelerate fiber rollout outside of South Africa’s main cities and to the country’s small businesses.