wordpress blog stats
Connect with us

Hi, what are you looking for?

Tata Communications Increases Shareholding In Neotel To 61.5%

Tata Communications Limited (TCL) has informed the Bombay Stock Exchange (BSE) that its shareholding in Neotel has increased from 49% to 61.5%. The company has purchased additional 12.5% stake which was previously held by Two Telecom Consortium (2TC). Consequently, Neotel becomes a direct subsidiary of Tata Communications. The other shareholders of Neotel are Nexus Connexion and CommuniTel.

Neotel, which is a South African telecommunications services provider, offers fixed-line and internet services in the region. The company of late has not been doing particularly well financially and accounted for Rs 551 crore of the total loss suffered by Tata Communications in the financial year ended 31st March 2011.

According to TechCentral, Neotel wants to expand its subscriber base by 50% in the on going financial year. It intends to spend funds on new wireless base stations to enhance its coverage area. Neotel has allocated about R500 million (Rs 325 crore approx) for capital expenditure in 2012, part of which will be utilized for enhancing its consumer offerings.

Meanwhile Tata Communications is working towards reduction of networking cost, increase productivity gains and provide managed services to small and medium scale enterprises.


Tata Comm Revenues Up 8% To Rs 11932 Cr For FY11; Rs 854 Cr Loss

You May Also Like


The responses to TRAI’s consultation paper on low-bandwidth applications for satellite technology are in. Here’s what telecom operators have to say on the questions...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ