The sale of SA’s Dimension Data to Japan’s Nippon Telegraph and Telephone Corp (NTT) has received approval from the Competition Commission.
The Commission has referred the deal to the Competition Tribunal and has recommended the deal go through without conditions.
The R24,4bn buy-out of Didata was given the go-ahead by both the European Commission and Australia’s Foreign Investment Board at the end of August.
NTT and Didata announced the proposed sale in the middle of July. The SA company said at the time that it had already received commitments to support the deal from more than half of its shareholders.
Finance minister Pravin Gordhan and the SA Reserve Bank have also given the deal the green light.
NTT will offer Didata shareholders 120p/share in cash and will fund it using a combination of cash resources and loan facilities arranged by the Bank of Tokyo-Mitsubishi UFJ. — Staff reporter, TechCentral