neotel gears to end telkom monopoly

Neotel has secured R7,5 billion in funding and debt instruments in the hope of accelerating its growth into a true competitor to state fixed-line operator and monopoly Telkom.

Neotel has secured R7,5 billion in funding and debt instruments in the hope of accelerating its growth into a true competitor to state fixed-line operator and monopoly Telkom.

Neotel signed the agreements yesterday, sealing a two-year long programme to raise long-term financing. It has secured R7,5 billion of total funding - made up of a combination of new equity and debt. - Zweli Mokgata

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