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Neotel revamp in bid to wrest market share

Dec 22 2010 16:18
Reuters

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VODACOM GROUP LIMITED [JSE:VOD]

Last traded 138
Change 0
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Cumulative volume 172636
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Last Updated: 02-09-2015 at 09:49. Prices are delayed by 15 minutes. Source: McGregor BFA

TELKOM SA SOC LIMITED [JSE:TKG]

Last traded 60
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Cumulative volume 51373
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Last Updated: 02-09-2015 at 09:48. Prices are delayed by 15 minutes. Source: McGregor BFA

MTN GROUP LIMITED [JSE:MTN]

Last traded 178
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Cumulative volume 845821
Market cap 0

Last Updated: 02-09-2015 at 09:49. Prices are delayed by 15 minutes. Source: McGregor BFA

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Neotel discontinues consumer contracts

 

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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