trending Market Intelligence /marketintelligence/en/news-insights/trending/LnT5d2vwjrpd8qHAwMSHgA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Net 1 acquires interest in South African mobile operator

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments

Paypal Well-Positioned To Gain Share In COVID-Related Digital Payments Shift

Digital Banking Battles Will Play Out In Southeast Asias Shopping Cart

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible


Net 1 acquires interest in South African mobile operator

Net 1 UEPS Technologies Inc. acquired a 15% interest in South Africa-based mobile operator Cell C Ltd. and a 45% interest in DNI-4PL Contracts Ltd., which distributes Cell C subscriber packs and prepaid airtime.

Net 1 acquired interest in Cell C for 2 billion South African rand ($148.5 million). The deal was settled using 750 million South African rand ($55.7 million) in cash and 1.25 billion South African rand ($92.8 million) in debt.

The debt facility provided by RMB and Nedbank is a two-year straight-amortizing facility with quarterly repayments and an interest rate of Johannesburg Interbank Average Rate plus 2.75%.

As part of the deal, Net 1 has the right to nominate two directors to the Cell C board. Net 1's investment in Cell C will reduce its debt to less than 6 billion South African rand ($445.6 million) from 19.5 billion South African rand ($1.45 billion).

Net 1 acquired its stake in DNI for 945 million South African rand ($70.2 million). The deal was settled with cash reserves. Under the terms of the transaction, Net1 is obliged to pay DNI an additional amount not exceeding 360 million South African rand ($26.7 million) in cash, subject to DNI achieving certain performance targets. Net 1 has a two-year option to acquire a further 10% interest in DNI.