Dimension Data dismisses African operations sale speculation

Dimension Data has dismissed rumours that NTT is looking to sell Dimension Data’s African operations, which in turn may be listed as a separate company on the London Stock Exchange. Dimension Data provides IT products and services, and has operations in five territories: Americas, Asia Pacific, Australia, Europe, and the Middle East & Africa. The company has an annual turnover of £7.4 billion, and employs 31,000 people in 49 countries.

Dimension Data was acquired by Nippon Telegraph and Telephone (NTT) for ?2.1 billion in 2010, and was delisted from the Johannesburg Stock Exchange and the London Stock Exchange that year. Industry speculation suggests that NTT is looking to offload Dimension Data’s African operations, after which the African unit will be listed on the London Stock Exchange. According to an industry source, the deal would only happen in late 2018 if negotiations were successful.

Several of Dimension Data’s local partners have been told there is something big in the pipeline, but they have not been provided with details of the plan.

Grant Bodley, CEO of Dimension Data Middle East and Africa, dismissed the speculation, however, saying there is no truth to the claims.

Now read: New CEO for Dimension Data[1]

References

  1. ^ New CEO for Dimension Data (mybroadband.co.za)

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