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Vodacom reaches deal to buy Neotel, sees major synergies

2014-05-19 09:44:00| Telecompaper Headlines

(Telecompaper) South Africa's Vodacom has reached an agreement to acquire 100 percent of the issued share capital in Neotel and shareholder loans against it, for a total cash consideration equivalent to an enterprise value of ZAR 7.0 billion. Under the deal, Neotel will become a subsidiary of Vodacom South Africa and the combination with Vodacom's South African fixed enterprise business will create a national service provider with annual revenues of more than ZAR 5 billion.

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Vodacom to buy Neotel for close to 500m

2014-05-19 02:00:00| Total Telecom industry news

India's Tata sells South African telecoms operator after months of discussion.

Tags: to buy close 500m

 
 

Tata's $460m Neotel deal all but done

2014-03-26 01:00:00| Total Telecom industry news

Indian firm will reportedly announce sale of South African business to Vodacom in next two months.

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Vodacom looks to add spectrum, fibre assets with Neotel deal

2013-10-01 02:00:00| Total Telecom industry news

Merger of two South African operators would create stronger competitor, but would also attract regulatory scrutiny.

Tags: add deal assets spectrum

 

Vodacom, Neotel confirm merger talks

2013-09-30 16:21:00| Telecompaper Headlines

(Telecompaper) India-based Tata Communications confirmed it's in exclusive talks to sell South Africa fixed operator Neotel to Vodacom, the African subsidiary of Vodafone. A final deal will depend on further negotiations, as well as regulatory and corporate approvals. The operators said the takeover would stimulate greater competition in the South African fixed telecommunications market, where Neotel has struggled to gain ground against incumbent Telkom. Vodacom will be able to expand into the growing fixed internet market, bundling offers with its mobile services for consumers and businesses, as well as profit from Neotel's spectrum holdings and backbone network. If the deal is implemented, Vodacom said it intends to invest significantly in the combined entity to provide high-speed fixed connectivity to many more businesses and consumers. No financial details of the proposed merger were announced. Earlier reports suggested that Tata's stake in Neotel could be worth around USD 500 million.

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