Vodacom paid R717 million to buy Autopage customers

Vodacom on Monday disclosed how much it paid to buy Altech Autopage Cellular customers from JSE-listed firm Altron Group. By Gugu Lourie

South Africa’s biggest mobile phone operator informed investors on the JSE on Monday that it paid R717 million to acquire Autopage subscribers.

Effective 16 March 2016, Vodacom bought its Altech Autopage mobile customer base from Autopage for a consideration of R717 million.

“Of this total consideration, R144 million represents deferred consideration which was outstanding as at 31 March 2016. The fair value of the net identifiable assets acquired amounted to R349 million. The goodwill of R368 million represents future synergies, and is allocated to the group’s South Africa cash-generating unit,” Vodacom said on the JSE filing.

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