Tata Communications Said Near Sale of Neotel in South Africa

  • Econet Wireless said poised to buy Tata’s 68.5% stake in ISP
  • Price would value Neotel at $389 million to $454 million

A worker lays cabling for a high speed telecommunications line for Neotel Ltd., a fixed-line operator part-owned by Tata Communications Ltd., in the center of Johannesburg.

Photographer: Nadine Hutton/Bloomberg

Tata Communications Ltd. of India is close to an agreement to sell a majority stake in South African Internet-service provider Neotel Pty Ltd. to closely held telecommunications company Econet Wireless Global, according to people familiar with the matter.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.