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

      Sarb tells banks they should work with crypto exchanges

      18 August 2022

      Telkom muscles into banks’ turf with business loans

      18 August 2022

      iPhone 14 launch date targeted for 7 September

      18 August 2022

      Icasa moves to license more broadband spectrum

      17 August 2022

      Eskom to impose more load shedding

      17 August 2022
    • World

      China blasts US over ‘discriminatory’ Chips Act

      18 August 2022

      Tencent reports first-ever sales decline

      17 August 2022

      Chip makers are flashing a big warning for the global economy

      17 August 2022

      Semiconductor boom turns to bust

      16 August 2022

      Tencent plans to offload R400-billion Meituan stake: sources

      16 August 2022
    • In-depth

      Are you a chronic procrastinator? Read this!

      18 August 2022

      African unicorn Flutterwave battles fires on multiple fronts

      11 August 2022

      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
    • Podcasts

      Qush on infosec: why prevention is always better than cure

      11 August 2022

      e4’s Adri Führi on encouraging more women into tech careers

      10 August 2022

      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
    • Opinion

      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

      Rob Lith: What Icasa’s spectrum auction means for SA companies

      13 June 2022
    • Company Hubs
      • 1-grid
      • Africa Data Centres
      • 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»What Liquid Telecom gets from Neotel

    What Liquid Telecom gets from Neotel

    News By Agency Staff28 June 2016
    Facebook Twitter LinkedIn WhatsApp Telegram Email

    Neotel-640

    Econet Wireless Global affiliate Liquid Telecom agreed to pay R6,55bn for South African telecommunications operator Neotel, creating the continent’s largest broadband network and business-to-business phone carrier. Shares of Tata Communications, which is selling the stake, surged.

    The buyer is partnering with Royal Bafokeng Holdings, a South African empowerment investment group, which has committed to taking a 30% stake in Neotel, according to a statement from Mumbai-based Tata Communications, which acquired control of Neotel in 2009.

    The deal gives Econet wireless spectrum and broadband access to South African businesses and homes and gives businesses across the continent access to 40 000km of cross-border fibre networks, according to an e-mailed statement from Liquid Telecom.

    Econet, founded and run by Strive Masiyiwa, controls Liquid Telecom and mobile phone company Econet Wireless Zimbabwe.

    “We’ll also be increasing investments into Neotel to cater for rapidly accelerating mobile and enterprise traffic,” Nic Rudnick, Liquid Telecom CEO, said in the statement.

    For Tata, a transaction would advance an asset-sale push the coffee-to-cars conglomerate has been pursuing as chairman Cyrus Mistry seeks to pare debt and boost profit. Tata Steel, Tata Power and Indian Hotels, which wants to sell its Taj Boston hotel, are among group firms looking to dispose of non-core assets.

    Tata Communications rose as much as 8% as of 1pm in Mumbai following the announcement. The shares have gained 6,3% this year, compared with a 1,7% increase in the benchmark S&P BSE Sensex index.

    Four months ago, Johannesburg-based Vodacom abandoned a R7bn proposal to buy Neotel after almost two years of regulatory battles and legal opposition to the deal by competitors.  — (c) 2016 Bloomberg LP

    Econet Econet Group Econet Wireless Liquid Telecom Neotel Strive Masiyiwa Tata Communications Vodacom
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous Article‘No revolt at the SABC’: board chairman
    Next Article Liquid Telecom to buy Neotel for R6,5bn

    Related Posts

    Sarb tells banks they should work with crypto exchanges

    18 August 2022

    Telkom muscles into banks’ turf with business loans

    18 August 2022

    iPhone 14 launch date targeted for 7 September

    18 August 2022
    Add A Comment

    Comments are closed.

    Promoted

    Entelek, A2pay to roll out 2 500 free Wi-Fi sites in South Africa

    18 August 2022

    Companies are drowning in data – but solutions are at hand

    18 August 2022

    Top cybersecurity challenge is inadequate identification of key risks

    17 August 2022
    Opinion

    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

    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.