Altech takes 8.6% stake in LiquidComment on this story
Johannesburg - Altech (ALT) reported Monday that it has agreed to hold an 8.6% in Liquid‚ which operates and owns one of Africa’s most extensive fibre optic networks.
Altech said it would subscribe for the issue of new shares in Liquid for cash.
Liquid said its controlling shareholders had indicated that Altech may be afforded the opportunity to increase its shareholding in the future‚ in order to enhance the strategic partnership between the companies.
Liquid was established in 1997 as an independent telecommunications provider for international‚ voice‚ internet and data traffic‚ and other related services based on satellite communication technology.
Liquid has since become a supplier of fibre‚ satellite‚ international carrier services and infrastructure to fixed and mobile telecommunications operators‚ internet service providers (ISPs) and enterprises in developing countries‚ particularly in central and southern Africa. - I-Net Bridge