Vodacom to acquire Tata Communications’ stake in Neotel: Report

Vodacom has reportedly agreed to acquire Tata Communications’ stake in Neotel. The company will acquire Neotel for a cash consideration of $680 million. Moreover, the transaction may close before end of current fiscal. Vodacom is a pan-African mobile telecommunications company, with the largest number of subscribers of cellular networks in South Africa. 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.