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Vodacom abandons takeover of Neotel
2016-03-01 11:33:00| Telecompaper Headlines
(Telecompaper) South Africa mobile operator Vodacom has abandoned its proposed acquisition of the majority of Neotel's assets after the companies were unable to obtain regulatory approval for the deal. The takeover of Neotel, controlled by India-based Tata Communications, was first announced in May 2014, as part of Vodacom's efforts to expand in the fixed market and acquire fibre and spectrum assets. In December 2015 the companies said they had scaled back the deal, dropping Neotel's spectrum and offering competition concessions due to regulatory concerns. Since then they refiled for regulatory clearance but were unable to complete the deal before the neogtiating deadline lapsed.
Tags: takeover
abandons
vodacom
neotel
Category:Telecommunications
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