Tata Com acquires 30 percent stake in South African firmJanuary 19th, 2009 - 9:55 pm ICT by IANS
New Delhi, Jan 19 (IANS) Telecom operator Tata Communications has acquired a 30 percent stake in Neotel, a South Africa-based operator, the Indian firm said Monday. Tata Communications picked up the stake from two other operators, Eskom and Transnet.
Neotel provides a range of value-added voice and data services for businesses, wholesale network operators and providers and consumers.
Following this acquisition, Tata Communications has become the controlling shareholder in Neotel in association with Tata Africa Holdings, a company statement said.
“This reaffirms Tata Communications’ commitment to its expansion and investment plans in the emerging regions of Asia, Africa and the Middle East. We will support Neotel’s efforts to provide global quality telecom services in South Africa,” Tata Communications managing director and chief executive N. Srinath said.