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South Africa: Top wireless carrier approaches ISP buyout

By  |  April 2, 2014

South Africa’s largest wireless operator Vodacom is said to be approaching Internet service provider Neotel, reports say.

According to two sources, Vodacom is in final stages to acquire the company from its current owner Tata Communications. Vodacom first announced the merger plans last September.

Neotel’s board of directors has yet to approve of the deal, however, but the companies are reportedly planning to close the deal in the first half of this year.

A Neotel acquisition, which remains subject to regulatory approval, would allow Vodacom to expand into the Internet industry and compete with Telkom and MTN Group, reports say.

Full Content: Bloomberg

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