Tata Hikes Stake In Neotel By 30 Percent
By Cerius Shah - Wed 25 Jun 2008 10:06 AM PST
Tata Communications has hiked its stake in South African telco Neotel by 30% by acquiring stake in two state-run firms Eskom and Transnet reports ET. Tata had previously acquired 26 percent, bringing the total to a majority 56% stake. Commercials of the acquisition have not been revealed. Neotel had recently acquired Transtel Telecom, which owns all port and rail infrastructure in South Africa for Rs 120 crore, to give Transtel an infrastructure boost. Neotel competes with Telkom, the dominant operator in South Africa.
Posted in: Mergers & Acquisitions, Mobile, Operators, Tata Comm
