About 93% of Dimension Data shareholders have approved the sale of the listed IT group to Japan’s Nippon Telegraph and Telephone (NTT) Corp, clearing the way for its delisting from the Johannesburg and London stock exchanges.
NTT and Didata have been given the go-ahead by all the relevant regulatory and competition authorities worldwide. The two groups announced the proposed sale in the middle of July.
NTT says it will aim to “accelerate the growth of NTT’s global business by leveraging Didata’s entrepreneurial spirit and corporate culture”.
“We have established a strong relationship between the management of Didata and that of NTT,” says NTT CEO and president Satoshi Miura in a statement. “We are looking forward to welcoming the management and employees of Didata to the enlarged NTT Group.”
All that is left is for the remaining shareholders to accept the offer before Didata is delisted from both the JSE and the UK bourse.
“The acquisition process proceeded smoothly and we are excited to start charting the journey ahead. Together we will be a formidable force in the marketplace,” says Didata chairman Jeremy Ord. — Staff reporter, TechCentral