Tata Communications surges on entering into agreement with Liquid Telecom to sell its arm Neotel

Tata Communications Ltd. | Telecommunication - Service Provider | Telecom | BSE: 500483 | NSE: TATACOMM

28 Jun 2016 Evaluate

Tata Communications is currently trading at Rs. 468.00, up by 18.40 points or 4.09% from its previous closing of Rs. 449.60 on the BSE.

The scrip opened at Rs. 478.00 and has touched a high and low of Rs. 486.00 and Rs. 467.25 respectively. So far 262859 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 490.30 on 24-Jul-2015 and a 52 week low of Rs. 325.70 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 462.90 and Rs. 426.70 respectively. The current market cap of the company is Rs. 13454.85 crore.

The promoters holding in the company stood at 74.99%, while Institutions and Non-Institutions held 18.01% and 6.99% respectively.

Liquid Telecom, a privately owned, pan-African telecoms group, majority owned by Econet Wireless Global, has entered into an agreement to acquire South African communications network operator Neotel, a subsidiary of the Tata Communications in South Africa. The shareholders of Neotel -Tata Communications of India and minority shareholders led by Nexus Connexion - have agreed for Liquid Telecom to acquire Neotel for ZAR 6.55 billion. Liquid Telecom is partnering with Royal Bafokeng Holdings (RBH), a South African empowerment investment group, which has committed to take a 30% equity stake in Neotel.

The transaction is subject to obtaining all affirmative approvals and other corporate approvals that may be required by the shareholders of Neotel and other regulatory approvals, is transformative and will create the largest pan-African broadband network and B2B telecoms provider. Through a single access point, businesses across Africa will be able to access Liquid Africa’s 24,000km of cross-border, metro and access fibre networks. These currently span 12 countries from South Africa to Kenya, with further expansion planned. The transaction is subject to approval by South African regulatory authorities and is expected to be completed later this financial year.

Tata Communications is engaged in providing telecommunications, broadcasting, and information supply services. The company operates through voice solutions and data managed services segments.

Tata Communications Share Price

1590.80 -3.10 (-0.19%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
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