neotel gears to end telkom monopoly

11 December 2008 - 02:00
By unknown

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