Tata Communications is ready to sell its entire stake in South African subsidiary Neotel to Vodacom SA for an undisclosed amount. Vodacom, a subsidiary of British telecom major Vodafone Plc, will acquire a majority of Neotel’s fixed-line business, but excludes spectrum and licences.
As part of this agreement, Neotel will offer a roaming arrangement to all the mobile network operators, including Vodacom. Tata Communications and Vodacom have been in negotiations since September 2013, after the Tata group company decided to exit Neotel, South Africa’s second-biggest fixed-line phone operator.
Tata Communications is a leading global provider of a new world of communications. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.
