The IFC is considering an investment made up of equity and quasi-equity and totaling $111 million for a stake in the special purpose vehicle that will be set up to hold the combined interests of the planned $560 million acquisition of Neotel, South Africa’s second-largest wholesale fiber network, by Liquid Telecommunications and community-based investment company Royal Bafokeng Holdings.
Neotel, which is owned by Tata Communications, Nexus Connexion, and CommuniTel, recently agreed to be acquired by Liquid Telecom and Royal Bafokeng Holdings following a competitive bidding process. The acquisition will strengthen Liquid Telecom’s position as the largest independent pan-African telecommunications provider.
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