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Broadband

Vodacom reaches deal to buy Neotel, sees major synergies

Monday 19 May 2014 | 09:44 CET | News
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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Categories: Fixed / Mobile & Wireless
Companies: NeoTel / Tata Communications / Vodacom South Africa
Countries: South Africa
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