At a Glance
- Emtel sells final EMVision stake to Currimjee for $14.9 million in strategic shift.
- Sale aligns with Emtel’s focus on digital infrastructure, 5G rollout, and fintech expansion.
- Proceeds will strengthen Emtel’s liquidity for high-return projects and regional growth.
Emtel Limited, one of Mauritius’ leading telecom and digital service providers, has finalized the sale of its remaining 90 percent stake in EMVision Ltd to Currimjee Jeewanjee & Co. Ltd for about MUR 675 million ($14.9 million) to focus on digital infrastructure.
The deal marks the completion of Emtel’s gradual withdrawal from the pay-TV and content business as it sharpens its focus on technology, connectivity, and digital infrastructure.
Strategic shift gathers pace
The agreement, signed in December 2024, is expected to be completed by the end of 2025, once all regulatory approvals are secured and full payment is received.
This comes after Emtel’s earlier move in April 2025, when EMVision reduced its shareholding in MC Vision from 52.94 percent to 25 percent through a partial sale to CANAL+ International.
With the latest transaction, ownership of MC Vision consolidates under the Currimjee group, which already controls Emtel.
Because Currimjee is a related party, the deal has been classified as a related-party transaction under the Stock Exchange of Mauritius Listing Rules. Emtel has submitted all necessary disclosures, including an independent valuation that supports the agreed price.
Refocusing on core priorities
Emtel’s decision to sell its stake in EMVision reflects a clear strategic refocus. The pay-TV business, once central to its consumer offerings, has become less vital as customer demand shifts toward data, enterprise solutions, and digital services.
In recent years, Emtel has poured significant investment into high-speed connectivity, a nationwide 5G rollout, cloud computing, a Tier-3 rated data center, and a national fiber network.
The company has also deepened its presence in fintech and satellite technology through its Emtel Technopolis project. Divesting EMVision frees up both capital and management time for these growth areas.
Although it is stepping back from ownership in MC Vision, Emtel plans to continue distributing pay-TV content through its home broadband services and to cooperate with Currimjee on network infrastructure where it makes sense.
A year ago, Emtel filed an application with the Mauritius Stock Exchange(SEM) in a move that listed its social capital on the bourse to become the first telecom company in the country to list on the stock exchange.
Valuation and financial impact
The sale price of MUR 675 million ($14.9 million) aligns with the valuation used in the earlier CANAL+ transaction and with an independent market assessment.
While not a game-changing amount, the proceeds provide Emtel with added liquidity to fund expansion across its digital ecosystem.
In its most recent financial year, Emtel reported revenue of about MUR 3.8 billion ($83.79 million) and profit from continuing operations of roughly MUR 387 million ($8.54 million). The inflow from EMVision will help sustain that performance and support investment in high-return projects.
Completion of the sale depends on the timely approval of regulators and satisfaction of all closing conditions.
Payment is expected by December 2025. Once finalized, the transaction will mark an important step in Emtel’s plan to strengthen its position as a digital infrastructure leader in the Indian Ocean region.
For Emtel, this is less an exit than a realignment—a move away from traditional media holdings and toward a future built on connectivity, financial technology, and enterprise innovation.
