/ 9 May 2001

COMPAREX SELLS UP DIDATA SHARES

SOUTH African IT services firm Comparex Holdings said on Tuesday it had sold its remaining 16.6m shares in Dimension Data on the open market for over R700m between December 1 and May 7. ”The net proceeds (after costs) of the disposal amount to approximately R714m, which represents an average price of R43.01 per Dimension Data share,” it said. Didata closed in Johannesburg at R35.60 on Tuesday. Comparex – which obtained Didata shares when it sold its European network integration operations to the IT heavyweight – said the proceeds would be used to further its organic and acquisitive growth. – Reuters