Neotel to snap up Transtel

12 Apr 2007

Neotel is reported to have agreed to acquire Transtel Telecoms from Transnet, the national transport company, for ZAR230 million (USD32.2 million). Local newspapers say that the deal for Transtel, which generates revenue of around ZAR400 million per year, is expected to be completed within the next four months. Neotel bought Transtel’s 1,300km fibre-optic cable network for ZAR256 million two months ago.

South Africa, Liquid Intelligent Technologies South Africa