Tata increases ownership in Neotel, creating a new company subsidiary

Tata Communications has upped its stake in South Africa's second-largest wireline service provider Neotel to 61.5 percent.

Previously, Tata owned a 49 percent stake in the service provider.

By increasing its ownership stake in Neotel, the South African service provider now becomes a Tata Communications subsidiary.

Of course, Tata has a challenge on its hand as Neotel has never been able to reach profitability since it was launched in 2006.

For more:
- Reuters has this article

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