VSNL gets major stake in SA telco

By agencies   |   Thursday, 24 February 2005, 08:00 Hrs
Printer Print Email Email
MUMBAI: TataÂ’s owned telecom major VSNL has been awarded a major stake in South African telecom operator SNO. VSNL has been given a 26 per cent share in the new company that will compete alongside the former state company Telkom.

South Africa's Telecommunications Minister Ivy Matsepe-Casaburi made the announcement in Durban.

Tatas will control SNO with Nexus, which has a 19 per cent share and state companies like Eskom and Transnet, which have 15 per cent stake each, she said.

The Tata Group, which already has motor vehicle and other business interests in South Africa, was granted the share after a "long drawn-out bidding process", she added.

Facebook denies cyber attack
Facebook ruled out a cyber attack on its products Whatsapp, Instagram and Messenger, which suf..
Wipro opens third industrial
IT major Wipro Ltd on Thursday opened its centre of excellence for Industrial Internet of Things (..
IBM announces programme
n a bid to recognise the contribution of developers in the open source community, Information ..
Google's Gboard gets offline
Google is adding an Artificially Intelligent (AI) offline dictation feature on its Gboard keyb..