A PYMNTS Company

South Africa: Vodacom mobile unit pursuing top fixed-line rival

By  |  October 1, 2013

South Africa’s mobile operator giant Vodacom reportedly confirmed rumors the company is looking to acquire the nation’s second-largest fixed-line operator Neotel.

Vodacom, in which Vodafone holds a majority stake, announced Monday the start of “exclusive discussions” regarding the merger; reports say the deal is valued at more than $500 million.

If successful, Vodacom would be victorious in acquiring 100 percent of Neotel after competitors including Dimension Data dropped out of bids for the fixed-line company.

Full Content: ZDNet

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.