MUMBAI (Reuters) - India's Tata Communications Ltd is looking for another buyer for its South African fixed-line subsidiary Neotel after a deal with Vodacom Group Ltd fell through, Chief Executive Vinod Kumar said on Wednesday.
"We have been in discussions with Vodacom so there is no other potential buyer we are engaged with ... however, people in the market have expressed interest and now the time has come for us to explore those options," Kumar told Reuters.
On Tuesday, Vodacom, a unit of Vodafone, dropped a planned acquisition of local fixed line operator Neotel, citing regulatory complexities.
Tata Communications also expects to sell a stake in its data centre unit in the next few months, Kumar added.
(Reporting by Himank Sharma and Devidutta Tripathy; Editing by Miral Fahmy)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app