Finance minister Pravin Gordhan and the SA Reserve Bank have both given the green light to the R24,4bn all-cash acquisition of SA IT group Dimension Data by Japan’s Nippon Telegraph and Telephone Corp (NTT).
Didata said on Friday that both parties had approved the offer.
The approvals, a big step forward in consummating the deal, follow a number of other key milestones in the process.
On 12 August, the two companies received the necessary antitrust clearance from the European Commission. They’ve also got notification from Australia’s Foreign Investment Review Board that the deal could go through without any formal objections.
“The offer remains conditional upon the satisfaction or, if permitted, waiver of the remaining conditions to the offer,” Didata told shareholders by way of a stock exchange news service statement. — Staff reporter, TechCentral
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