Liquid Telecom, a privately-owned pan-African telecoms group majority owned by Econet Global, has entered into an agreement to acquire Neotel.<\/p>\n
The shareholders of Neotel \u2013 Tata Communications of India and minority shareholders led by Nexus Connexion \u2013 have agreed for Liquid Telecom to buy Neotel for R6.55 billion.<\/p>\n
Liquid Telecom is partnering with Royal Bafokeng Holdings, a South African investment group, which has committed to take a 30% stake in Neotel.<\/p>\n
\u201cThe transaction, which is subject to regulatory approvals, is transformative and will create the largest pan-African broadband network,\u201d said Liquid Telecom.<\/p>\n
\u201cThrough a single access point, businesses across Africa will be able to access 40,000km of cross-border, metro, and access fibre networks.\u201d<\/p>\n
These currently span 12 countries from South Africa to Kenya, with further expansion planned.<\/p>\n
Republished with permission from MyBroadband<\/a>.<\/em><\/p>\n Vodacom-Neotel deal falls through<\/a><\/strong><\/p>\n Cell C cheers Vodacom loss on Neotel spectrum<\/a><\/strong><\/p>\nMore on Neotel<\/h3>\n