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Business News/ Companies / Tata Comm says raises stake in S.Africa’s Neotel
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Tata Comm says raises stake in S.Africa’s Neotel

Tata Comm says raises stake in S.Africa’s Neotel

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New Delhi: Indian telecoms firm Tata Communications said on Monday it has increased its effective holding in South Africa’s second-biggest fixed-line phone operator Neotel to 61.5% from 49%.

Neotel has become a subsidiary of Tata Communications after the stake increase, the Indian firm said in a statement to the stock exchanges.

Launched in 2006, Neotel has yet to turn a profit.

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Published: 13 Jun 2011, 07:24 PM IST
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