Econet considers listing Liquid Telecom in Europe in 2018

17 February 2017

Mergers, Acquisitions and Financial Results

Econet Group founder Strive Masiyiwa has said he is considering a separate listing next year for subsidiary Liquid Telecom, which currently is probably the largest operator of fibre and business satellite services on the African continent, according to a statement on its website. Masiyiwa, who is Econet Group Executive Chairman, said it had decided to go for a listing of Liquid after spurning several offers for its subsidiary.

He said it received several unsolicited offers for Liquid, but it wants it to remain an independent access provider for Internet in Africa. He confirmed that Econet Group had already appointed advisors for the potential listing of Liquid at one of the major European exchanges. He said it would finalise this early in the New Year.

Liquid Telecom has been growing rapidly over the last few years, fuelled by the demand for infrastructure to support broadband internet on the African continent. The company has built a fibre optic network that spans fifteen countries from South Africa, all the way to the border of South Sudan in East Africa, and now wants to move into West Africa. According to Masiyiwa, although Liquid has a presence in satellite and payment systems in West Africa, the terrestrial fibre side is missing.

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Source: Telecompaper