Tata Communications today said Vodacom will acquire 100 percent stake in Neotel for an enterprise value of ZAR 7.0 billion.

The structure of the deal and its commercial terms remain subject to regulatory and competition authority approvals and the parties will be immediately commencing the necessary processes in that regard, said Tata Communications.

Vinod Kumar, MD and CEO, Tata Communications, said: “It is in line with our financial objectives while paving the way for Neotel to improve its value proposition in the South African market.”

TelecomLead News Team