Vodacom and Remgro lodge appeal to overturn Maziv decision
The Competition Commission, a competition watchdog which investigates and recommends deals to the Tribunal for a final decision, had recommended blocking the proposed deal to the Tribunal because it is likely to prevent or lessen competition substantially in several markets.
Vodacom, which is majority owned by Britain's Vodafone, and Remgro, which has a 57% stake in Community Investment Ventures Holdings, the parent company of Maziv, said they were forging ahead with the appeal while they were still waiting for the Tribunal's reasons.
"Shareholders are further advised that the transaction parties remain in discussions with regards to the transaction terms. Should agreement not be reached the transaction may be terminated," Vodacom said.
Source: Reuters
Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Go to: https://www.reuters.com/
Related
Takealot grows revenue to fend off Amazon rivalry 3 days $13.5bn Omnicom-IPG merger approved by FTC 3 days Top ICT achievers recognised at 2025 Enterprise Development Graduation 19 Jun 2025 Vodacom to invest R100m in 106 new rural base stations across KZN 13 Jun 2025 End of tax loophole for Shein and Temu starting to have impact, say local retailers 9 Jun 2025 TFG reports 4.6% rise in annual profit 6 Jun 2025
