Copying and distributing are prohibited without permission of the publisher
Vodacom to sell Gateway to PCCW
12 June 2012
PCCW is to buy the satellite services unit of Gateway Communications from Vodacom for $26m
Hong Kong phone company PCCW Global has agreed to acquire the satellite services unit of Gateway Communications from South African operator Vodacom for $26 million, reports Bloomberg. PCCW will retain Vodacom as a customer.
The deal sees PCCW take another step towards expanding its business outside its homeland where it is facing increasing competition from China Mobile and Hutchison Telecommunications.
For Vodacom, which is controlled by Vodafone, the move represents yet another sale of a Gateway unit. It acquired the firm — originally based in London — for around $700 million less than four years ago. GTB
More from GTB
West Africa Cable System 'completed' 22 Feb 2012
GTB Innovation Awards 2010: results 3/5 11 Jun 2010
Interview: Peter Gbedemah of Gateway Communications 01 Aug 2009
Vodafone to buy Vodacom and put it in charge of sub-Saharan ... 07 Nov 2008