0
Wireless

Leo goes to High Court to save merger with Telecom Namibia

Thursday 23 August 2012 | 09:40 CET | News
Namibian mobile operator Leo and parent company Powercom have gone to the High Court to try to save Leo's merger with Telecom Namibia and stop Powercom from being liquidated by month-end, according to The Namibian. In June, the Communications Regulatory Authority of Namibia (Cran) approved Leo's takeover by Telecom Namibia for nearly NAD 242 million, provided that private investors are allowed to buy at least 25 percent of Telecom Namibia. Powercom's owner Guinea Fowl Investments (GFI) argues that Cran did not have the power to make the ruling and that its was "irrational, unreasonable,

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: Telecom Namibia
Countries: Namibia
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Telecom Namibia to pay nominal NAD 2 to buy Leo - report

Published 03 Sep 2012 11:14 CET | Namibia
Telecom Namibia will pay a nominal price of NAD 2 to buy defunct mobile operator Leo, The Namibian reported. Telecom Namibia will ...

Namibia Telecom-Leo merger gains conditional approval

Published 04 May 2012 12:53 CET | Namibia
The Namibia Competition Commission (NaCC) has given conditional approval to the merger of Telecom Namibia with Powercom, which ...

Consumer group opposes Leo takeover by Telecom

Published 05 Mar 2012 14:53 CET | Namibia
The Namibia Consumer Trust (NCT) has expressed its opposition to the proposed Telecom Namibia and Leo merger, saying that the ...