CIVH, the Remgro-controlled parent of fibre network operator Maziv, has swung into a big interim loss.
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The competition appeal court has set aside three days to hear arguments in the ongoing Vodacom-Maziv merger saga.
The Competition Tribunal has been criticised over lengthy delays in concluding investigations of key deals in the ICT sector.
Trade, industry & competition minister Parks Tau will appeal the Competition Tribunal’s decision to prohibit the deal.
The decision by the Competition Tribunal to block Vodacom’s acquisition of a co-controlling stake in fibre operator Maziv is headed to the competition appeal court.
A group of investors led by Harith General Partners has agreed to buy out a fund that owns a stake in Vumatel parent CIVH.
Regulatory roadblocks preventing Vodacom from buying into Maziv have led to a decline in fibre investment, Remgro’s CEO said.
Remgro-controlled CIVH, which ultimately owns Vumatel and Dark Fibre Africa, through Maziv, has swung to a loss.
Blocking Vodacom’s acquisition of a stake in Maziv would be hugely negative for the telecoms sector, experts have warned.
Competition Tribunal hearings into the proposed merger between Vodacom and Maziv kicked off in Pretoria on Monday.