Covid-19 Outbreak SA Online Resource | Everything you need to know | More info
Insurance, Car Insurance, Funeral Cover, Life Insurance, Budget Insurance, Insurance Quotes, CompareGuru, South Africa.
Car and Household
Business
Life and Funeral
Car Insurance
Cover your vehicle
More Information
Get Quote
Pre-Owned Warranty
Cover the mechanical and electrical components of your vehicle
More Information
Get Quote
Extended Warranty
Cover the mechanical and electrical components of your vehicle
More Information
Get Quote
Scratch and Dent
Cover small dents, chips and scratches to your vehicle
More Information
Get Quote
Tyre and Rim
Cover damages to your wheels
More Information
Get Quote
House Insurance
Cover your home and everything in it
More Information
Get Quote
Commercial Car Insurance
Protect vehicles and drivers used in the day-to-day operation of your business against risks like financial loss, damage or personal injury.
More Information
Get Quote
Business Insurance
Provide cover against common risks and disruptions to business operations, such as theft, damage to property, employee / client injury and much more.
More Information
Get Quote
Directors and Officers Liability
Safeguard your business and key players from financial loss with the right policy.
More Information
Get Quote
Errors and Omissions Liability
Covers your business and employees against claims of negligence, poor workmanship, and more.
More Information
Get Quote
Life Insurance
Provide for your loved ones
More Information
Get Quote
Disability Insurance
Protect your paycheck
More Information
Get Quote
Serious Illness Insurance
Cover yourself for illnesses like cancer, Alzheimers, Parkinsons, strokes or heart attacks.
More Information
Get Quote
Funeral Cover
Protect your family financially and cover funeral expenses
More Information
Get Quote

News Room

Vodacom Neotel Deal Valued at $460 Million

Compare Guru
2014-03-27
Wall Street Journal puts the deal between Vodacom and Neotel at close on R5 billion, reporting that a commercial announcement is anticipated in the next two months.
Wall Street Journal puts the deal between Vodacom and Neotel at close on R5 billion ($460 million), reporting that a commercial announcement is anticipated in the next two months. Mobile operator, Vodacom and fixed-line business, Neotel entered into exclusive discussions regarding a potential acquisition of 100% of the shares of Neotel by Vodacom, in September last year. In October, Bloomberg reported that Vodacom’s proposed takeover of Tata Communications’ South Africa unit would include up to $500 million (R5.3 billion) of debt, citing two people familiar with the negotiations. “The deal could be valued as high as 10 billion rand ($994 million),” Bloomberg said, citing a source. Neotel’s parent company, Tata Communication acquired a 2.5% stake in the operator last year, valued at R149 million, thus taking its total share in Neotel to 68.5%, and valuing the company at R5.9 billion. According to WSJ, Neotel boasts 152,000 customers and 1,000 employees and contributes about 11% of Tata’s revenues. “The deal will be valued at about 28 billion rupees ($460 million) with Vodacom taking over Neotel’s debt,” it reported. “We expect to make a commercial announcement in the next two months,” a Tata executive, who declined to be named, told The Wall Street Journal. According to WSJ, the two telco firms will initially sign a share purchase agreement and then seek approval from South Africa’s telecommunications and antitrust regulators. This article was originally published on Business Tech: http://businesstech.co.za/news/telecommunications/54929/vodacom-neotel-deal-valued-at-460-million/
CompareGuru Social TwitterCompareGuru Social FacebookCompareGuru Social LinkedIn

Sign up to our Newsletter now, and don’t miss a beat.

Email Address
Name
Sign Up