Vodacom modifies Neotel acquisition deal

Vodacom modifies Neotel acquisition deal

South African telecoms operator Vodacom has reached an agreement on a restructured transaction in regards to its ZAR7 billion (USD566 million) acquisition of domestic rival Neotel, following a request to postpone the hearings in front of the country’s Competition Tribunal in November. According to the revised deal, Vodacom South Africa will acquire inter alia the majority of Neotel’s assets related to its fixed-line business, excluding its licences (spectrum, electronics communications network [ECN] and electronics communications network services [ECNS]).

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