TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentralTechCentral
    NEWSLETTER
    • News

      Google’s giant Equiano Internet cable has landed in South Africa

      8 August 2022

      The African tech start-ups eyeing global markets

      8 August 2022

      Karpowership loses bid to overturn environmental ruling

      8 August 2022

      New app launched to tackle potholes in South Africa

      8 August 2022

      Rogue database felled Capitec in its worst-ever IT outage

      7 August 2022
    • World

      Nvidia issues profit warning on slump in demand for graphics cards

      8 August 2022

      Buterin: Mining on Ethereum Classic won’t affect Merge

      8 August 2022

      Musk challenges Twitter CEO to a public debate

      7 August 2022

      Amazon splashes $1.7-billion on Roomba maker iRobot

      5 August 2022

      Nigeria asks Google to block banned groups from YouTube

      5 August 2022
    • In-depth

      The length of Earth’s days has been increasing – and no one knows why

      7 August 2022

      As Facebook fades, the Mad Men of advertising stage a comeback

      2 August 2022

      Crypto breaks the rules. That’s the point

      27 July 2022

      E-mail scams are getting chillingly personal

      17 July 2022

      Webb telescope’s stunning images of the cosmos

      12 July 2022
    • Podcasts

      How South Africa can woo more women into tech

      4 August 2022

      Book and check-in via WhatsApp? FlySafair is on it

      28 July 2022

      Interview: Why Dell’s next-gen PowerEdge servers change the game

      28 July 2022

      Demystifying the complexity of AI – fact vs fiction

      6 July 2022

      How your organisation can triage its information security risk

      22 June 2022
    • Opinion

      SIU seeks to set aside R215-million IT tender

      19 July 2022

      No reason South Africa should have a shortage of electricity: Ramaphosa

      11 July 2022

      Ntshavheni’s bias against the private sector

      8 July 2022

      South Africa can no longer rely on Eskom alone

      4 July 2022

      Has South Africa’s advertising industry lost its way?

      21 June 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»News»Liquid consummates Neotel acquisition

    Liquid consummates Neotel acquisition

    News By Staff Reporter10 February 2017
    Facebook Twitter LinkedIn WhatsApp Telegram Email
    Liquid Telecom CEO Nic Rudnick

    Liquid Telecom’s R6,5bn acquisition of South African telecommunications operator Neotel is done. The parties finalised the deal on Friday morning.

    India’s Tata Communications, which controlled Neotel, and minority shareholders have sold their stake in the company to Liquid Telecom, which now holds 70% of the equity, and Royal Bafokeng Holdings, which owns 30% and serves as the company’s new black economic empowerment partner.

    Liquid Telecom, which is controlled by Zimbabwean billionaire Strive Masiyiwa’s Econet Group, has operations in 15 markets across Africa. The Neotel acquisition marks its first significant investment in South Africa.

    “Through substantial new capital from Liquid Telecom … a revitalised Neotel will emerge in the South African market with significantly enhanced service offerings for enterprises and consumers,” Liquid said in a statement confirming the conclusion of the transaction.

    “Over the coming months, Liquid Telecom plans to make extensive upgrades and expansions to Neotel’s network, delivering greater levels of high-speed connectivity to more customers across South Africa,” it said.

    It also plans to make big investments in data centres. Neotel has two tier-3 data centres in Johannesburg and Cape Town.

    “For the first time, Neotel’s operations and focus will also become pan-African,” Liquid said in the statement. “Its network in South Africa will link with Liquid Telecom’s extensive fibre footprint to offer access via a single connection to over 40 000km of cross-border, national and metro fibre networks.”

    “Today is an important new chapter for Neotel. The refinancing of the company’s balance sheet will see a revitalised Neotel enter the market with the ability to offer consumers and businesses greater quality services and products delivered through world-class networks,” said Liquid Telecom CEO Nic Rudnick.  — (c) 2017 NewsCentral Media

    • More on this on TechCentral on Sunday
    Econet Group Liquid Telecom Neotel Neotel Liquid Telecom Nic Rudnick Royal Bafokeng Holdings Strive Masiyiwa Tata Communications
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleTalkCentral: Ep 167 – ‘Liquid assets’
    Next Article Big four banks’ dominance must end: Zuma

    Related Posts

    Google’s giant Equiano Internet cable has landed in South Africa

    8 August 2022

    The African tech start-ups eyeing global markets

    8 August 2022

    Karpowership loses bid to overturn environmental ruling

    8 August 2022
    Add A Comment

    Comments are closed.

    Promoted

    You don’t need a call centre to take advantage of call centre technology

    5 August 2022

    Black man, you are still on your own

    5 August 2022

    UC&C interoperability offers businesses operational cost relief in tough times

    4 August 2022
    Opinion

    SIU seeks to set aside R215-million IT tender

    19 July 2022

    No reason South Africa should have a shortage of electricity: Ramaphosa

    11 July 2022

    Ntshavheni’s bias against the private sector

    8 July 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.