Link Africa said to be in talks to buy Vast Networks

Vast Networks is a Naspers and Dimension Data joint venture.

Naspers and Dimension Data are in talks to sell their joint venture, Vast Networks, to fibre-optic infrastructure company Link Africa, according to a report by Bloomberg.

Three people familiar with the matter told Bloomberg that Investec is managing the sale of Vast Networks, for which Link has offered R450 million.

Vast was started in 2015 to provide open-access Wi-Fi network infrastructure in South Africa and holds a number of exclusive agreements with businesses.

The deal is not yet final, and terms could change, according to a Bloomberg report.

Naspers is said to own 51 percent of Vast, while Dimension Data holds the balance.