Tata Comm raises stake in S.Africa's Neotel

CIOL Bureau
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NEW DELHI, INDIA: Indian telecoms firm Tata Communications said on Monday it has increased its effective holding in South Africa's second-biggest fixed-line phone operator Neotel to 61.5 per cent from 49 per cent.

Neotel has become a subsidiary of Tata Communications after the stake increase, the Indian firm said in a statement to the stock exchanges.

Launched in 2006, Neotel has yet to turn a profit