Icasa approves Vodacom takeover of Neotel

News General South Africa 16 JUN 2015
Icasa approves Vodacom takeover of Neotel
The Independent Communications Authority of South Africa has conditionally approved Vodacom's ZAR 7 billion purchase of Neotel. The approval comes a year after Vodacom and Neotel first announced the deal and opens the way for Vodacom's expansion in the local fixed market. Neotel is controlled by Tata Communications and holds a number of key spectrum licences and fibre assets in South Africa. Icasa's approval is subject to conditions; the regulator will announce these later, on 17 June. The takeover is also still subject to approval from the competition regulators. 

Categories:

General

Companies:

ICASA,  NeoTel,  Vodacom

Countries:

South Africa

Tags:

Regulations, M&A buyouts & divestments

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