Mumbai, June 14, 2011
South Africa’s second network operator, Neotel, sees its shareholding by Tata Communications move to 61.5%
Mumbai, June 14, 2011: Neotel’s majority shareholder, Tata Communications, part of $67.4 billion Tata Companies, has purchased the previously held 12.5% stake from Two Telecoms Consortium (2TC). This now makes Tata Communications a 61.5% shareholder in Neotel and Neotel, a subsidiary of Tata Communications Limited.
This change in shareholding further reinforces Neotel’s relationship with Tata Communications, enabling it to leverage its proven and vast global network which will consolidate Neotel’s position as a serious player in the local market. The increase in shareholding also highlights the strong support Neotel receives from its major shareholder as well as Tata Communications’ commitment to the South African market.
Ends…
FOR IMMEDIATE RELEASE |
PRESS RELEASE |
|---|---|
| Natalie Chak Tata Communications +44 (0)7833 043 779 natalie.chak@tatacommunications.com |
Neil Thomas Hill & Knowlton Strategies +44 207 413 3454 neil.thomas@hkstrategies.com |
About Tata Communications
Tata Communications Limited (CIN no: L64200MH1986PLC039266) along with its subsidiaries (Tata Communications) is a leading global provider of A New World of Communications™. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.
The Tata Communications global network includes one of the most advanced and largest submarine cable networks and a Tier-1 IP network with connectivity to over 240 countries and territories across 400 PoPs, as well as nearly 1 million square feet of data centre and collocation space worldwide.
Tata Communications’ depth and breadth of reach in emerging markets includes leadership in Indian enterprise data services and leadership in global international voice. Tata Communications Limited is listed on the Bombay Stock Exchange and the National Stock Exchange of India.
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