/ 15 November 2000

DATATEC SELLS UUNET, RESHUFFLES MANAGERS

SOUTH African IT group Datatec has announced the sale of Internet firm UUNET South Africa and a management reshuffle at its offshore units, which helped lift its recently hard-hit shares. Datatec – whose share price dived 22% in the past week since posting poor first half profits – agreed to sell 76% of UUNET SA to joint venture partner WorldCom so it could focus on core businesses. Datatec Chairman Jens Montanana told a news conference the sale could be worth about one billion rand. Datatec, a networking and e-services group, said the sale would eliminate its net borrowings, which were R842m rand at end-September. – Reuters