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Johannesburg - Vodacom said on Wednesday it was still in talks to acquire Neotel, a South African subsidiary of India's Tata Communications, refuting Indian press reports the negotiations could fall through.
India's Economic Times had reported the deal worth a potential $590m could disintegrate because the South African regulator was contemplating whether or not to allow the transfer of Neotel's spectrum to Vodacom.
The South African unit of Britain's Vodafone has been eyeing Neotel for its data capacity.
"We're busy finalising the agreements and in the final stages of that part of negotiation," said Vodacom spokesperson Richard Boorman.
"That article in the Indian Economic Times is just plain wrong."
Neotel has access to more than 15 000km of fibre-optic cable, with over half of that in major urban areas.
Vodacom shares were up 1.4% at R131.15 in early afternoon trading.
India's Economic Times had reported the deal worth a potential $590m could disintegrate because the South African regulator was contemplating whether or not to allow the transfer of Neotel's spectrum to Vodacom.
The South African unit of Britain's Vodafone has been eyeing Neotel for its data capacity.
"We're busy finalising the agreements and in the final stages of that part of negotiation," said Vodacom spokesperson Richard Boorman.
"That article in the Indian Economic Times is just plain wrong."
Neotel has access to more than 15 000km of fibre-optic cable, with over half of that in major urban areas.
Vodacom shares were up 1.4% at R131.15 in early afternoon trading.
