Neotel closing in on Telkom

Neotel, South Africa's No.2 fixed-line operator, has signed up almost half of the country's top 350 corporate clients in contracts worth about R1,5-billion, its chief said on Friday.

Neotel, controlled by India's Tata group, was launched in 2006. It started selling corporate services last year and retail services in May, aiming to muscle into a market dominated for years by state-controlled fixed-line operator Telkom.

Neotel competes for corporate clients with Telkom, Internet Solutions - a unit of Dimension Data - and Verizon South Africa, which is being bought by mobile phone group MTN.

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