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MWeb on the block

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MWeb is on the auction block, with parent Naspers initiating an auction process to sell off the Internet service provider (ISP). 

Naspers announced yesterday that it is considering offers received for MWeb, one of the biggest residential ISPs in South Africa and also the owner of the largest VSAT corporate Internet base in sub-Saharan Africa.
The holding company says it will develop its online content platforms, communities and e-commerce, but MWeb – as the only ISP in the stable – doesn't fit the group's core focus.
MWeb has more than 320 000 home subscribers in South Africa, which translates to a market share of more than 25%.
Over the past 10 years it has also grown in the rest of the continent with WiMax expertise in South Africa and Namibia, and representation in 26 other African countries. MWeb is planning additional investments in wireless broadband.
Naspers focus includes investments in Tradus, an e-commerce platform in Eastern Europe, Tencent in China, Mail.ru in Russia and Gadu-Gadu in Poland. Ibibo in India, Sanook in Thailand and 24.com and Mxit in South Africa all continue to grow their communities.