India’s Tata becomes Neotel’s Largest Stakeholder

January 26, 2009 | Email This Post Email This Post | Print This Post Print This Post

Indian telco Tata Communications has bought an additional 30 per cent stake in South African network operator, Neotel, to become the majority stakeholder in the company …

The managing director and CEO of Tata Communications, Srinath Narasimhan, said in a statement that Tata had bought the 30 per cent stake previously held by the South African para-statals, Eskom and Transnet.

The purchase of the 30 per cent shareholdings, he said, had resulted in Tata Communications in association with Tata Africa Holdings becoming a controlling shareholder in Neotel.

“This reaffirms Tata’s commitment to its expansion and investment plans in the emerging regions of Asia, Africa and the Middle East,” Narasimhan has said.

Via EconomicTimes

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About the author: Jonathan Gosier is a software developer, writer and social entrepreneur. He currently lives in Kampala, Uganda where he incubates and invests in East African entrepreneurs as the CEO of Appfrica Labs. He's also a TED Fellow.
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