Vodafone decries Neotel takeover approval delay

Friday 27 March 2015 | 10:58 CET | News
Vodafone said it has been waiting nearly a year for South African government regulatory bodies to approve its proposed ZAR7 billion acquisition of Neotel, which it described as unacceptably long, BDLive reported. Vodafone CEO Vittorio Colao said the group's patience is being tried to the limit although he said that delays in mergers and acquisitions were not limited to the telecommunications sector, nor to South Africa. Consideration should be given to the company that was being acquired, as delays would hamper its decision-making on issues such as staff recruitment, he said.

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Categories: Fixed / Mobile & Wireless
Companies: NeoTel / Vodacom / Vodafone
Countries: South Africa
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