Econet Wireless has acquired Neotel for over R6.5bn. The buyer is partnering with Royal Bafokeng Holdings, which has committed to taking a 30% stake in Neotel, which has committed to taking a 30% stake in Neotel, according to a statement by Mumbai-based Tata Communications which acquired a controlling stake in Neotel in 2009.
Source: Loni Prinsloo and Siddharth Philip, Fin24
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