 Following the signing, the licence terms and conditions were finalized in March 2006, and the company officially launched in August 2006.In May 2014 a buyout offer of ZAR 7 Billion from cellular network Vodacom was accepted by shareholders of both companies.Even though regulatory approval by the Independent Communications Authority of South Africa was obtained in 2015, the deal ultimately collapsed in March 2016 after competitors successfully challenged the transfer of Neotel's licenses and spectrum in court.