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,

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Categories: Mobile & Wireless
Companies: Telecom Namibia
Countries: Namibia
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