Remgro-backed Telecoms Firm Speeds Up Broadband Expansion After $1 Billion Debt Deal

A South African telecoms company backed by investment firm Remgro plans to expand its high-speed broadband network after completing a 16 billion rand ($1 billion) debt restructuring this week, Reuters reported. The building of fiber optic networks in upmarket neighborhoods has intensified in the past five years, but has been confined to cities due to the high cost of laying down the infrastructure and the dominance of mobile internet. But as the price of fixed-line internet comes down and more customers seek faster connection speeds than those offered by 4G mobile technology, the chance to grab a bigger slice of the fiber market has been seized by Community Investment Venture Holdings (CIVH). Read more