Picture: ISTOCK
Picture: ISTOCK

Liquid Telecom and Royal Bafokeng have completed the R6.5bn acquisition of fixed-line operator Neotel.

Over the coming months, Liquid Telecom plans to make extensive upgrades and expansions to Neotel’s network, delivering greater levels of high-speed connectivity to more customers across SA.

Liquid Telecom, which is a subsidiary of Econet Global, said a revitalised Neotel would emerge due to the new capital.

"Today is an important new chapter for Neotel. The refinancing of the company’s balance sheet will see a revitalised Neotel enter the market with the ability to offer consumers and businesses greater quality services and products delivered through world-class networks," said Liquid Telecom group CEO Nic Rudnick.

Neotel will be intergrated into Liquid Telecom SA.

Rudnick said Neotel’s operations and focus would also become pan-African. Its network in SA would link with Liquid Telecom’s extensive fibre footprint to offer access via a single connection to more than 40,000km of cross border, national and metro fibre networks.

© Business Day

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