Tata Communications to buy a further 30% stake in South African telecom company Neotel, reports CNBC-TV18, quoting Newswire18.
Tata Communications, formerly known as VSNL, will pick up an additional 30% stake in South African telecom company Neotel. The Tatas currently own 26% in the company and the acquisition of the stakes of two South African state-owned entities will make them a majority owner. Tata Communications says deal closure could take up to 6 months. The size of the deal has not been divulged by the company
