Tata Communication Sells Neotel To Leading IT Enterprises
Telecommunication leader Tata Communication has sold its South African telecom arm Neotel to Liquid Telecom and Royal Bafokeng Holdings at an enterprise value of 6.55 billion rand ($428 million or INR 2,904 crore). The company had been trying to sell its holding in Neotel since 2013. It had earlier initiated discussions with a Vodafone subsidiary in Africa, but the talks were called off earlier this year. Read Also: With CLiQ, Tata Group Enters E-Commerce Business The transaction with Liquid Telecom, when concluded, will create the largest pan-African broadband network and...