JOHANNESBURG (Reuters) - Vodacom Group (JNB:VOD.L - News) is in talks to buy Tata Communications' (NSI:TATACOMM.NS - News) stake in South African telecoms operator Neotel for more than 5 billion rand, Bloomberg reported on Friday, citing a person familiar with the matter.
The talks are set to become exclusive, Bloomberg said.
Neotel was not immediately available for comment and Vodacom declined to comment.
"It is not our policy to comment on market speculation," a Tata Communications spokeswoman in Mumbai said.
Reports of discussions to sell the firm have been swirling for most of this year and Vodacom's bigger rival, MTN (MTNJ.J), confirmed in August that it was no longer in talks for a stake in Neotel.
(Reporting by Helen Nyambura-Mwaura in JOHANNESBURG and Devidutta Tripathy in MUMBAI; editing by David Dolan)
- Mergers, Acquisitions & Takeovers
- Investment & Company Information
- Vodacom Group
- Tata Communications
- Vodafone Group Plc