Tata Communications updates on Neotel and Vodacom transaction

Restructured transaction to be re-notified to Competition Commission

Tata Communications has earlier announced that Neotel and Vodacom have concluded a modified transaction in terms of which Vodacom will acquire the majority of Neotel's assets related to its fixed line business as a going concern, excluding, inter-alia, Neotel's licenses (spectrum, ECN, ECNS). As part of this agreement, Neotel will offer a roaming arrangement to all the mobile network operators, including Vodacom.

Further to that, Tata Communications has updated that Transaction documentation relating to the restructured transaction was submitted to the Competition Tribunal (Tribunal) and at the Tribunal pre-hearing it was agreed that, following the outcome of the Roaming Offer, Vodacom South Africa and Neotel will re-notify the details of the restructured transaction with the Competition Commission and that the matter will be dealt with expeditiously.

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