Vodacom (VODAF.OB) is set to enter exclusive negotiations to acquire Internet provider Neotel from Tata Communications (TCL), which bought a majority stake in 2008, for more than 5B rand ($502M), Bloomberg reports.
The interest comes as Vodacom becomes increasing interested in attracting small and mid-sized business customers and expanding data services to offset declining voice revenues.
MTN Group (MTNOY.PK) was also reportedly interested but has since dropped out of the process.
Vodafone (VOD) has until this afternoon to make an offer for Cable & Wireless Worldwide, with the mobile carrier the only bidder after Tata (TCL) yesterday pulled out of the race having failed to agree a price. Buying C&W, which is worth about $1.2B, would allow Vodafone to offload surging Internet traffic in the U.K. to a fixed network with more capacity. (previous)
Cable & Wireless Worldwide extends until April 19 the deadline for which Vodafone (VOD) and Tata Communications (TCL) can make bids for the U.K. company, whose market cap is £809M ($1.29B). The deadline was due to expire today.
Content delivery network (CDN) owners Akamai (AKAM -0.9%) and Limelight (LLNW -2.4%) edged lower today after Juniper (JNPR) announced it's acquiring service management software developed by Tata Communications' (TCL) BitGravity CDN subsidiary. Juniper claims the combination of BitGravity's software and its Media Flow hardware allows it to offer an out-of-the-box CDN solution to carriers.