VSNL gets 26% stake in SNO

24 Feb 2005

South Africa’s Telecommunications Minister Ivy Matsepe-Casaburi says that Indian telco Videsh Sanchar Nigam Limited (VSNL), owned by the powerful Tata Group, has been awarded a 26% stake in the country’s second national operator (SNO). The new operator, which also includes South African state-backed companies Eskom (15%) and Transnet (15%) and Black Empowerment group NEXUS (19%), will compete head-to-head with former monopoly Telkom as part of the government’s managed liberalisation of the fixed line sector.

South Africa, Tata Communications