India: Tata Communications sells Neotel to Africa’s Liquid Telecom

Tata Communications Ltd has entered into an agreement to sell its South African telecom unit Neotel Pty Ltd to Liquid Telecom Group, run by Liquid Telecommunications Holdings Ltd of Africa, for South African Rand 6.55 billion. Liquid Telecom, majority owned by Econet Wireless Global, is partnering with Royal Bafokeng Holdings (RBH), a South African empowerment investment group, which has committed to take a 30% equity stake in Neotel.