Trade, industry & competition minister Parks Tau will appeal the Competition Tribunal’s decision to prohibit the deal.
Browsing: CIVH
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.
CIVH, the parent of Vumatel and Dark Fibre Africa, has reported a 97% plunge in headline earnings.
Among other transactions, Remgro is fighting to get approval for a multibillion-rand fibre deal with Vodacom.
Frogfoot, Vox ordered to hand over documents related to a probe into the fibre transaction involving Vumatel parent Maziv.