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

Related articles:
Tata Communications adds BitGravity to its growing CDN puzzle
Tata Communications buys CDN BitGravity
Tata Communications names Vinod Kumar as new CEO, managing director

Suggested Articles

Cogeco Connexion, a subsidiary of Cogeco, will pick up about 100,000 triple play customers with its $405 million deal to buy DERYtelecom.

DataBank is augmenting its traditional data center portfolio with a $30 million investment in EdgePresence.

Varnish worked with Intel and VMware to build a new virtualized content delivery network (vCDN) offering for VMware Telco Cloud.