Liquid Telecom and Royal Bafokeng complete Neotel deal
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