Sunil Joshi has stepped down as CEO of Neotel, five months after being suspended pending a board-led investigation into alleged corruption in a deal involving Transnet. His resignation comes less than two weeks after Neotel’s chief financial officer, who
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Neotel’s chief financial officer, Steven Whiley, has resigned. Whiley was suspended from the telecommunications operator in July, along with CEO Sunil Joshi, over allegations of bribery related to a multibillion-rand contract at Transnet. In a tersely worded statement on Friday, Neotel said
Neotel chief corporate services officer Tracy Cohen has resigned. News of her resignation comes on the same day that Vodacom announced that it was in talks with Neotel and its shareholders – led by India’s Tata Communications – about a “revised transaction
Vodacom is in talks with Neotel and its shareholders about a “revised transaction structure”, the mobile group said in a statement to shareholders on Monday. But it has not explained what prompted it to re-look at the R7bn deal. The decision has forced
The Competition Tribunal has agreed to postpone a hearing regarding a R7bn merger between Vodacom and Neotel indefinitely. This comes after Vodacom released a market update earlier on Monday saying the company is exploring a “revised transaction structure” regarding the Neotel deal
Neotel is hoping to wrap up an investigation within the next two to three weeks into possible bribery that led to the suspension in July of its CEO, Sunil Joshi, and its chief financial officer, Steven Whiley. That’s the word from Neotel director in charge Kennedy Memani
Vodacom its still confident that its R7bn acquisition of Neotel will go ahead, despite a protracted investigation by the Competition Tribunal and allegations of impropriety by Neotel executives over
Neotel director and shareholder Kennedy Memani will provide “interim executive oversight as the director in charge” following the decision last week to place CEO Sunil Joshi and chief financial officer Steven Whiley on “special leave” pending an investigation into
Neotel CEO Sunil Joshi and chief financial officer Steven Whiley have been placed on “special leave” pending an investigation into alleged bribery and corruption at the telecommunications operator
Transnet chief financial officer Anoj Singh has been seconded to Eskom in the same role for six months, according to the state utility on Thursday. Singh’s secondment is effective from