Internet services provider Liquid Telecom has bought a 30 per cent stake in South African communications network operator Noetel as it aims to grow market share in Africa’s most advanced economy. The firm got unconditional approval from the Independent Communications Authority of South Africa in October for the 6.55 billion rand (Sh47.88 billion) acquisition. “The combined companies will create an unparalleled footprint covering key markets across the continent, giving Liquid Telecom a significant competitive advantage through the breadth, depth and flexibility of our consolidated networks,” Liquid Telecom chief executive Nick Rudnick said. The transaction was closed days after Liquid Telecom announced the acquisition of a majority stake in Tanzania’s leading internet service provider Raha on Wednesday. Liquid Telecoms has a reach spanning over 40,000km.
