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| Exchange Disseminated Time 11/12/2015 08:15:48 | With reference to the earlier communication dated December 08, 2015 whereby the Company had informed that Neotel and Vodacom have concluded a modified transaction in terms of which Vodacom will acquire the majority of Neotel’s assets related to its fixed line business as a going concern, excluding, inter-alia, Neotel’s licenses (spectrum, ECN, ECNS). As part of this agreement, Neotel will offer a roaming arrangement to all the mobile network operators, including Vodacom.
Tata Communications Ltd has now informed BSE that Transaction documentation relating to the restructured transaction was submitted to the Competition Tribunal (“Tribunal”) and at the Tribunal pre-hearing held today it was agreed that, following the outcome of the Roaming Offer, Vodacom South Africa and Neotel will re-notify the details of the restructured transaction with the Competition Commission and that the matter will be dealt with expeditiously. |
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