General Announcement::TATA COMMUNICATIONS ANNOUNCES NEXT STEPS IN PROPOSED NEOTEL AND VODACOM TRANSACTION

Issuer & Securities

Issuer/ Manager
TATA COMMUNICATIONS (NETHERLANDS) B.V.
Securities
TATA COMM S$400M4.25%N160201 - SG6Z15989833 - 2OUB

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
19-May-2014 18:38:33
Status
New
Announcement Sub Title
TATA COMMUNICATIONS ANNOUNCES NEXT STEPS IN PROPOSED NEOTEL AND VODACOM TRANSACTION
Announcement Reference
SG140519OTHR4S0X
Submitted By (Co./ Ind. Name)
Issuer Services
Designation
SGX-ST
Effective Date and Time of the event
19/05/2014 13:30:00
Description (Please provide a detailed description of the event in the box below)
In continuation to our earlier intimation dated 30 September 2013. Tata Communications (Netherlands) B.V has been informed by its ultimate parent, Tata Communications Limited ( TCL ), that the shareholders of Neotel and Vodacom SA have announced today that they have favourably concluded an agreement on the commercial structure and terms to proceed for Vodacom to acquire 100 per cent of the shares of Neotel valued at an enterprise value of ZAR 7.0 billion. This follows the announcement late last year that the parties were entering into exclusive talks for a due diligence. The structure of the deal and its commercial terms remain subject to regulatory and competition authority approvals and the parties will be immediately commencing the necessary processes in that regard.

Attachments

Tata Communications press release Neotel 19 May 2014.pdf
Total size =149K

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