Tatas to sell South Africa’s Neotel to Vodafone arm

MUMBAI: India's largest private sector conglomerate Tata Group is selling South Africa'sNeotel seven years after it acquired a controlling stake in that country's second largest fixed line telecom operator to Vodafone's SA unit Vodacom. The deal is expected to value Neotel, in which Tata Communications holds 68.5%, at about $550 million.