Nashua Mobile sells Cell C subscriber base to Altech Autopage

Nashua Mobile sells Cell C subscriber base to Altech Autopage

Nashua Mobile has sold its portfolio of Cell C subscribers to Altech Autopage for R91.5 million. Johannesburg-listed firm Reunert has earlier indicated that it would sell its Vodacom and MTN subscribers to raise funds. Nashua Mobile is owned by Reunert.

The wholly owned subsidiary of Altron, Altech Autopage will pay half of the payment upfront for 65,000 subscribers of Cell C.

Nashua Mobile CEO Mark Taylor has informed that the company will wind down the operations within six months. The company will receive R45.75 million upfront and balance of the payment after analysis of Average Revenue Per User (ARPU) and performance of the subscriber base. Nashua Mobile expects to raise R2.2 billion by selling its MTN and Vodacom subscriber base.

Altech CEO Craig Venter said that his company will continue to broaden its focus in communications and telecom market, offering more options to consumers. The company has witnessed growth in ARPU in the latest quarterly results.

The deal is subject to approval from the Competition Authorities.

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