May 19, 2014 / 5:40 AM / 3 years ago

BRIEF-Vodacom to buy Neotel for 7 bln rand

1 Min Read

May 19 (Reuters) -

* Acquisition of neotel<vodj.j

* Vodacom - shareholders of company ("shareholders") are advised that vodacom has entered into an agreement with shareholders of neotel proprietary limited

* Vodacom will acquire 100% of issued share capital in and shareholder loan claims against neotel

* For a cash consideration equivalent to an enterprise value of zar 7.0bn

* Vodacom will fund acquisition through available cash resources and existing credit facilitiesTransaction remains subject to fulfilment of a number of conditions precedent

* Transaction remains subject to applicable regulatory approvals.

* Transaction is expected to close before end of current financial year, although will be dependent of timing of requisite regulatory approvals. Source text for Eikon: Further company coverage: [ ]

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below