| Notes to the consolidated annual financial statements | Note 22 |
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Aggregate net cash consideration paid |
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Shared Networks Tanzania Limited (Note 22.1) |
136 |
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– |
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Altron TMT (Pty) Limited (Note 22.2) |
149 |
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573 |
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285 |
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573 |
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During July 2016, the Group acquired 100% of the issued share capital of Shared Networks Tanzania Limited from its
shareholders for a consideration of R160 million. 15% of the purchase price is reserved for future claims, warranty and indemnity.
The fair value of the net identifiable assets acquired amounted to R147 million. The goodwill represents future synergies, and is
allocated to the Group’s Tanzania cash-generating unit. |
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Final fair value of net identifiable asset acquired |
147 |
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Intangible assets |
158 |
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Property, plant and equipment |
113 |
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Current assets |
13 |
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Current liabilities |
(90) |
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Deferred tax |
(47) |
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Goodwill |
13 |
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Deferred consideration |
(24) |
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Consideration transferred |
136 |
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The amounts of revenue and profit or loss of the acquiree included in the consolidated income statement for the year ended
31 March 2017, as well as the impact on consolidated revenue for the Group if the acquisition date occurred at the beginning of
the annual reporting period, is immaterial. |
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Effective 16 March 2016 the Group acquired its Altech Autopage customer base from Altron TMT (Pty) Limited. During the current
financial year, deferred consideration of R149 million was paid after certain conditions relating to the purchase price were met. |
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