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Tata raises Neotel stake

Jun 13 2011 15:55 Reuters

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New Delhi - Indian telecoms firm Tata Communications said on Monday it has increased its effective holding in South Africa’s second-biggest fixed-line phone operator Neotel to 61.5% from 49%.

Neotel became a subsidiary of Tata Communications after the stake increase, the Indian firm said in a statement to the stock exchanges.

Launched in 2006, Neotel has yet to turn a profit.
tata  |  neotel  |  telecommunications
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