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Neotel revamp in bid to wrest market share

Dec 22 2010 16:18 Reuters

Company Data

VODACOM GROUP LIMITED [JSE:VOD]

Last traded 133
Change 1
% Change 1
Cumulative volume 712186
Market cap 0

Last Updated: 30-03-2015 at 04:19. Prices are delayed by 15 minutes. Source: McGregor BFA

TELKOM SA SOC LIMITED [JSE:TKG]

Last traded 81
Change 3
% Change 4
Cumulative volume 963989
Market cap 0

Last Updated: 30-03-2015 at 04:19. Prices are delayed by 15 minutes. Source: McGregor BFA

MTN GROUP LIMITED [JSE:MTN]

Last traded 207
Change 4
% Change 2
Cumulative volume 4264345
Market cap 0

Last Updated: 30-03-2015 at 04:19. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Neotel, a unit of India's Tata Communications, said it is considering restructuring as it faces tough competition in South Africa.

Launched in 2006 after long delays, the company began offering telephone and internet services to corporate customers in March 2007, and has yet to turn a profit.

Neotel said in a statement it would consider "realignment and restructuring options". No one was immediately available to comment at Neotel.

It was not clear whether the restructuring would entail job cuts or closing down parts of the business.

Unlisted Neotel, South Africa's No.2 fixed-line operator, said it was trying to ensure it was sufficiently geared to meet the challenges of the market.

It competes for corporate clients with Telkom [JSE:TKG] , Internet Solutions - a unit of Dimension Data Holdings [JSE:DDT] , MTN Group [JSE:MTN] and Vodacom Group [JSE:VOD] business unit.

Neotel is rolling out wireless and fibre-optic networks to snatch fixed-line revenues from Telkom, which recently launched its own mobile unit.

mtn group  |  dimension data holdings  |  vodacom  |  neotel

 
 
 

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Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 

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