Tata Communications is looking to acquire another 2.5 per cent stake in South Africa-based telecom company Neotel for $18 million. This stake in Neotel is currently held by Tata Africa.
In case the company manages to up its stake, then it will hold 66.6 per cent stake in Neotel. The company has sought the government?s approval for its planned acquisition.
According to news reports Tata Communications is also planning to invest $125 million in Neotel. The new investment is in addition to the $395 million already approved by the board of the company. The new proposed investments will be made from cash generated internally by the company.
