Telecom Namibia completes takeover of Leo

News Wireless Namibia 29 NOV 2012
Telecom Namibia completes takeover of Leo
Telecom Namibia announced that the Communication Regulatory Authority of Namibia (CRAN) has formally cleared the company's completed acquisition of Powercom, which trades as Leo, the country's second mobile operator. The transaction was already approved by the Namibia Competition Commission (NaCC) on 27 April. CRAN's approval marks the final approval required for the acquisition, to be executed by Guinea Fowl Investments Two acquiring 100 percent of Leo's equity. Telecom Namibia's managing director, Frans Ndoroma said that the operator's acquisition of Leo will see mobile users across the country benefiting from increased investment in even better mobile services and new technology in the future. Telecom Namibia's Chief Strategy Officer Theo Klein will assume the role of interim CEO at Leo with immediate effect.

Categories:

Mobile

Companies:

Telecom Namibia

Countries:

Namibia

Tags:

Voice services, Regulations, M&A buyouts & divestments

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