Today, i.e. On 28th June 2016, Liquid Telecom has entered into an agreement to take over Neotel, the South African communication network. Liquid Telecom is a Pan-African telecom group which is privately owned, and its majority is held by Econet Wireless Global. TCS is the primary shareholder in Neotel with Nexus connexion being the minority shareholder. Royal Bafokeng Holdings(RBH), a South African empowerment Investment group, will be joining hands with Liquid Telecom in this acquisition. RBH has committed to take 30% stake of Equity in Neo