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| Exchange Disseminated Time 09/11/2016 09:16:36 | Tata Communications Ltd has informed BSE that :
"Tata Communications (the Company) vide letter dated June 28, 2016 had informed you that Liquid Telecom, a pan-African telecoms group, majority owned by Econet Wireless Global, had entered into an agreement to acquire South African communications network operator Neotel, which is a subsidiary of the Company.
Pursuant to the affirmative vote received from the Government of India and the approval received from the Competition Commission of South Africa, the Board of Directors of Tata Communications Limited, has, at its meeting held on November 08, 2016 recommended to the shareholders of Neotel, the sale of the entire shareholding in Neotel and the implementation of all transactions and steps related to, or incidental to, the aforesaid sale as contemplated in the sale agreement and other transaction documents, subject to approval of the Independent Communications Authority of South Africa." |
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