South Africa’s Vodacom to acquire fixed player Neotel

The South African mobile operator subsidiary of UK-headquartered Vodafone has announced an agreement to acquire the market’s second largest fixed communications provider, Neotel, in a cash deal worth ZAR7.0bn ($673m). Negotiations between Vodacom and Neotel were announced in September last year, when Vodacom CEO Shameel Joosub pledged to pump significant investment into the merged entity should talks prove fruitful.