AfriCAN insight  

How Liquid Telecom's agreement to acquire Neotel made the headlines worldwide

In case you missed it, Liquid Telecom made a major announcement at the end of June, when it reached an agreement to acquire Neotel.

Neotel is a leading South African communications network operator, and the agreement with its shareholders - Tata Communications of India and minority shareholders led by Nexus Connexion (Nexus) – is transformative. Liquid Telecom is also partnering with Royal Bafokeng Holdings (RBH), a South African investment group which has committed to take a 30% equity stake in Neotel.

The announcement was covered by the world's leading newswires, including Reuters, Bloomberg and Forbes, as well as the Financial Times, which said that it will “create the continent's biggest broadband network”.

It was particularly big news over in South Africa where the agreement made the front pages of several national newspapers – including Business Report and Business Day (pictured). It also received large attention from the rest of the African media, appearing in the likes of CNBC Africa, ITWeb Africa and Times Live.

Details of the move were positively received by analysts and market watchers, with Richard Hurst, a Senior Analyst at Ovum, commenting that: “The acquisition of Neotel by Liquid Telecom fits the operator's vision of being able to serve enterprise and wholesale customers right across East and Southern Africa.”

Meanwhile over on social media, the announcement made its way into over 2,400 tweets - a selection of which can be found below:

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