Comments
Tata Communications is planning to acquire another 2.5 per cent stake in South African telecom firm Neotel for $18 million. This stake is currently held by Tata Africa.
Post this acquisition, Tata Communications will own 66.6 per cent stake in Neotel.
The Indian company is also planning to invest $125 million in the South African company. This is in addition to the $395 million already approved by the Tata Communications' Board. The investments are proposed to be made from cash generated internally.
It has sought Government approval for the acquisition.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.