Vodacom to Use Neotel Deal to Expand High-Speed Fiber Cable
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Vodacom Group Ltd. plans to use its agreed acquisition of Internet provider Neotel Pty Ltd. to speed up the introduction of high-speed fiber-optic cable for South African businesses and homes.
The phone company will invest more than 1 billion rand ($91 million) a year in the new fiber-cable network, Chief Executive Officer Shameel Joosub said in an interview yesterday. The Johannesburg-based company is seeking to connect 5,000 businesses by March as it turns to mobile, landline, T.V. and Internet packages to offset declining voice revenue.