The Tata Group received approval from South Africa's Strategic Equity Partner Company (SepCo) for the start-up of the Second National Operator (SNO).
SepCo is a “special purpose vehicle” set up for the roll-out of the SNO. The approval provides the Tata Group's telecom arm Videsh Sanchar Nigam Ltd (VSNL) with access to the South African market, which is dominated by the fixed-line monopoly provider Telekom.
VSNL will operate through Tata Africa Holdings (Pty) Ltd, the investment arm of the Tata group in South Africa. Tata Africa has operations in eight African countries.
The partners in the SNO signed the agreement on August 15, pursuant to the issuance of a public switched telecommunication service (PSTS) license by the Independent Communications Authority of South Africa (Icasa).
Source: Business Standard - WDR/Intelecon Regulatory News
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