Neotel plans to raise $1 billion

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Neotel plans to raise $1 billion

October 15, 2008

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South African telecommunications company Neotel, in which Tata Communications holds a 56 per cent stake, is planning to raise $1 billion mostly through debt, for its expansion plans. The company will opt for an equity-linked mode for the remaining part of the loan that cannot be raised through debt. Reportedly, the company, which is the second national operator for fixed lines in South Africa, has already initiated discussions with bankers, including those from India.