Nevin John & Rajesh S Kurup / Mumbai October 10, 2008, 0:57 IST South African telecommunications company Neotel, in which Tata Communications (formerly Videsh Sanchar Nigam) holds a 56 per cent stake, is planning to raise $1 billion mostly through debt for its expansion plans. The company, which is the second national operator for fixed lines in South Africa, has already initiated discussions with bankers, including those from India, according to sources close to the development. Neotel is looking at raising funds mainly by way of debt, even though it might also look at part funding through equity-linked modes. The company would opt for equity-linked mode, for the remaining part of the loan that cannot be raised through debt. In June 2008, Tata Communications had increased the stake in the company to 56 per cent from the...
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