ABSP / ASA - Absa / Absa Bank - Announcement Of Ab
JSE ASA ABSP
ABSP AMAGB
ABSP / ASA - Absa / Absa Bank - Announcement Of Absa Bank`s Intention To Sell
Certain Non-Banking Assets Used In Its Absa Internet Access Business
ABSA BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/004794/06)
ISIN: ZAE000079810
JSE share code: ABSP
(Absa)
ABSA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/003934/06)
ISIN: ZAE000067237
JSE share code: ASA
Issuer code: AMAGB
(Absa Bank)
ANNOUNCEMENT OF ABSA BANK`S INTENTION TO SELL CERTAIN NON-
BANKING ASSETS USED IN ITS ABSA INTERNET ACCESS BUSINESS
Absa Bank has expressed its intention to sell (the Proposed Transaction)
certain non-banking assets in its business conducted under the trading name
Absa Internet Access (AIA) to Vox Telecom Limited (Vox), through its wholly
owned subsidiary, Atlantic Internet Services (Proprietary) Limited.
The Proposed Transaction is subject to the fulfillment of certain conditions
precedent by the closing date, being the later of 1 December 2007, or 2 days
after all the conditions precedent have been fulfilled.
The Proposed Transaction includes the transfer of the AIA customer contracts.
In terms of the Proposed Transaction, Absa Bank will facilitate a smooth
migration handover process. The facilitation and support will include the
AIA call centre support services whereby Vox and Absa Bank will collectively
ensure that the necessary service and support requirements of the AIA
customer base are maintained.
Johannesburg
5 October 2007
Enquiries
Alfie Naidoo
Executive director
Tel: (+2711) 350-7300
Fax: (+2711) 350-5238
E-mail: alfien@absa.co.za
Sponsor:
Merrill Lynch South Africa (Proprietary) Limited
Date: 05/10/2007 08:00:01 Produced by the JSE SENS Department.
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