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Tata Hikes Stake In Neotel By 30 Percent

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Tata Communications has hiked its stake in South African telco Neotel by 30% by acquiring stake in two state-run firms Eskom and Transnet reports ET. Tata had previously acquired 26 percent, bringing the total to a majority 56% stake. Commercials of the acquisition have not been revealed. Neotel had recently acquired Transtel Telecom, which owns all port and rail infrastructure in South Africa for Rs 120 crore, to give Transtel an infrastructure boost. Neotel competes with Telkom, the dominant operator in South Africa.

Jun 25, 2008 12:06 PM ET

Posted In: Mobile, Money, M&A & Venture Capital, Mergers & Acquisitions, Companies, Tata Comm

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