NEW DELHI: Tata Communications<\/a> today said the transaction for selling majority stake in subsidiary Neotel<\/a> to Vodacom<\/a>, South Africa has lapsed due to regulatory complexities and non-fulfillment of certain conditions. 新德里消息:塔塔通信今天说的交易卖的多数股权的子公司Neotel来Vodacom,南非失效由于监管的复杂性和non-fulfillment某些条件。
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The company on December 10 last year had said that Neotel and Vodafone's South Africa subsidiary, Vodacom have concluded a modified transaction and the transaction documentation relating to the restructured deal was submitted to the Competition Tribunal<\/a>.
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\n\"Vodacom, South Africa and Neotel have now confirmed that the agreement between the parties has lapsed due to regulatory complexities in concluding the transaction as well as certain conditions not being fulfilled,\" the company said in a filing to BSE.
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\nIt added that accordingly, the parties have agreed that the proposed restructured transaction can no longer be progressed.
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\nThe deal was originally signed in May 2014 wherein Vodacom had reached an agreement to buy Neotel, controlled by Tata Communications, for 7 billion rand (about Rs 3,200 crore).
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\nIn dollar terms, the value of transaction at that time was around USD 676 million.
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\nTata Communications owns over 68 per cent stake in South Africa's largest fixed line telephone service provider Neotel.
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\nTata Communications said it remains committed to its investment in Neotel and commitment to focus on customers, partners and employees in South Africa and providing the highest levels of customer service.\n\n<\/p><\/body>","next_sibling":[{"msid":51210463,"title":"Engineering students come up with low bandwidth video conferencing tool and messaging app","entity_type":"ARTICLE","link":"\/news\/engineering-students-come-up-with-low-bandwidth-video-conferencing-tool-and-messaging-app\/51210463","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":51211007,"entity_type":"ARTICLE","title":"Tata Communications' deal to sell Neotel to Vodacom lapses","synopsis":"The company on December 10 last year had said that Neotel and Vodafone's South Africa subsidiary, Vodacom have concluded a modified transaction.","titleseo":"telecomnews\/tata-communications-deal-to-sell-neotel-to-vodacom-lapses","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2016-03-01 18:18:50","lastupd":"2016-03-01 18:19:10","breadcrumbTags":["Tata Communications","Neotel","Vodacom","Competition Tribunal"],"secinfo":{"seolocation":"telecomnews\/tata-communications-deal-to-sell-neotel-to-vodacom-lapses"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2016-03-01" data-index="article_1">
该公司去年12月10日曾表示,Neotel和沃达丰的南非子公司Vodacom得出结论修改交易和交易文件有关重组交易提交竞争法庭。
“Vodacom、南非和Neotel已经确认当事人之间的协议已经失效结束事务中由于监管的复杂性以及某些条件不满足,”该公司在一份声明中称疯牛病。
它补充道,因此,双方已经同意该重组事务可以不再进步。
签署的协议最初是在2014年5月在Vodacom已达成了一项协议,购买Neotel,由塔塔通信控制,为70亿兰特(约3200卢比)。
以美元计算,当时交易的价值约为6.76亿美元。
塔塔通信拥有超过68%的股份在南非最大的固定线路电话服务提供者Neotel。
塔塔电信表示,它仍然致力于投资Neotel和承诺关注客户、合作伙伴和员工在南非和提供最高水平的客户服务。
NEW DELHI: Tata Communications<\/a> today said the transaction for selling majority stake in subsidiary Neotel<\/a> to Vodacom<\/a>, South Africa has lapsed due to regulatory complexities and non-fulfillment of certain conditions.
\n
The company on December 10 last year had said that Neotel and Vodafone's South Africa subsidiary, Vodacom have concluded a modified transaction and the transaction documentation relating to the restructured deal was submitted to the Competition Tribunal<\/a>.
\n
\n\"Vodacom, South Africa and Neotel have now confirmed that the agreement between the parties has lapsed due to regulatory complexities in concluding the transaction as well as certain conditions not being fulfilled,\" the company said in a filing to BSE.
\n
\nIt added that accordingly, the parties have agreed that the proposed restructured transaction can no longer be progressed.
\n
\nThe deal was originally signed in May 2014 wherein Vodacom had reached an agreement to buy Neotel, controlled by Tata Communications, for 7 billion rand (about Rs 3,200 crore).
\n
\nIn dollar terms, the value of transaction at that time was around USD 676 million.
\n
\nTata Communications owns over 68 per cent stake in South Africa's largest fixed line telephone service provider Neotel.
\n
\nTata Communications said it remains committed to its investment in Neotel and commitment to focus on customers, partners and employees in South Africa and providing the highest levels of customer service.\n\n<\/p><\/body>","next_sibling":[{"msid":51210463,"title":"Engineering students come up with low bandwidth video conferencing tool and messaging app","entity_type":"ARTICLE","link":"\/news\/engineering-students-come-up-with-low-bandwidth-video-conferencing-tool-and-messaging-app\/51210463","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":51211007,"entity_type":"ARTICLE","title":"Tata Communications' deal to sell Neotel to Vodacom lapses","synopsis":"The company on December 10 last year had said that Neotel and Vodafone's South Africa subsidiary, Vodacom have concluded a modified transaction.","titleseo":"telecomnews\/tata-communications-deal-to-sell-neotel-to-vodacom-lapses","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2016-03-01 18:18:50","lastupd":"2016-03-01 18:19:10","breadcrumbTags":["Tata Communications","Neotel","Vodacom","Competition Tribunal"],"secinfo":{"seolocation":"telecomnews\/tata-communications-deal-to-sell-neotel-to-vodacom-lapses"}}" data-news_link="//www.iser-br.com/news/tata-communications-deal-to-sell-neotel-to-vodacom-lapses/51211007">
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