Vodacom dropping $445M buyout of Neotel

|By:, SA News Editor

With regulatory complexities (and a line of competitors) in the way, South Africa's Vodacom (OTC:VODAF) is dropping its 7B-rand ($445M) deal to acquire Neotel.

The company had revised terms in December, in an attempt to get it through the transom and satisfy competitors including MTN (OTCPK:MTNOY), Cell C and Telkom SA (OTCPK:TLKGY).

Vodacom would have bought assets tied to the Internet provider's fixed-lien business but not its spectrum, which rivals said would give it a leg up in deploying a 4G network.

Previously: Vodacom excludes licenses in revised $481M deal to buy Neotel (Dec. 08 2015)

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