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Mobile & Wireless

Namibia Telecom-Leo merger gains conditional approval

Friday 4 May 2012 | 12:53 CET | News
The Namibia Competition Commission (NaCC) has given conditional approval to the merger of Telecom Namibia with Powercom, which trades as Leo, the Economist reported. One of the conditions states that separate and independent shareholding structures should be put in place for Telecom Namibia Ltd and MTC. State-owned Namibia Post and Telecommunications Holdings (NPTH) currently holds all the shares in Telecom Namibia and 66 percent of the shares in MTC. This separation of the holding structure must be effected within two years of the date of the notice determination. Another condition is that in the two-year period, no-one who is a director of Telecom Namibia or an employee of Telecom Namibia may serve as a director of either NPTH or MTC. Likewise, no-one who is a director of MTC or any employee of MTC may serve as a director of either NPTH or Telecom Namibia. This meant that current NPTH CEO Frans Ndoroma, who is also managing director of Telecom Namibia, and Patience Kangueehi-Kanalelo, who is company secretary at NPTH and head of legal services at Telecom Namibia, are to resign from their respective positions at NPTH with immediate effect. NaCC CEO and secretary to the commission, Mihe Gaomab II, said the conditions aim to prevent any collusive or coordinated behaviour that would undermine free competition among all entities in that sector. Powercom is the second licensed mobile company in Namibia and is a partnership with NamPower and Telenor of Norway.

Categories: Fixed / Mobile & Wireless
Companies: Leo / MTC / Telecom Namibia / Telenor
Countries: Namibia
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