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Vodacom to Buy Tata’s South African Unit to Boost Spectrum

Vodacom Group Ltd., the wireless operator with the most South African customers, agreed to buy local Internet provider Neotel Pty Ltd. from India’s Tata Communications Ltd. to boost its data offering.

The 7 billion-rand ($675 million) transaction will be funded through cash and existing credit facilities, Johannesburg-based Vodacom said in a statement today. The deal is subject to regulatory approval and the companies will start working on that process immediately, Mumbai-based Tata said in a separate statement.