South Africa’s Vodacom will no longer buy spectrum from Neotel as part of its proposed $500 million deal to acquire the company, following talks to restructure the tie-up.
Vodacom asked the country’s Competition Tribunal to postpone a hearing into the proposed deal to acquire Neotel in late November, as the two companies revise the terms of the deal.
The company did not explain why the terms of the deal changed but its bid has faced significant opposition, particularly from rivals arguing it should not be allowed to acquire additional spectrum. Vodacom is the country’s largest operator.
In a statement, Vodacom said Neotel, presently majority owned by India’s Tata Communications, will offer a roaming agreement to all mobile operators, instead of selling its licences (including for spectrum) to Vodacom.
“Shareholders are advised that agreement has been reached on a modified transaction in terms of which Vodacom South Africa will acquire inter alia the majority of Neotel’s assets related to its fixed line business as a going concern, excluding, inter alia, Neotel’s licences,” read a statement.
Full content: CNBC
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Justice Department Moves to End NCAA Transfer Rule
May 30, 2024 by
CPI
Kenya’s Competition Authority Proposes Tougher Regulations on Big Tech
May 30, 2024 by
CPI
KKR Secures EU Antitrust Approval for $24 Billion Acquisition of Telecom Italia’s Fixed-Line Network
May 30, 2024 by
CPI
European Court Sides with Tech Giants in Italian Regulatory Dispute
May 30, 2024 by
CPI
US Steel and Nippon Steel Secure International Approvals for $14.9B Merger
May 30, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI