Legal experts and various companies have warned that uncertainty of regulatory processes as well as high filing fees may threaten merger and acquisition cross-boarder transactions throughout eastern and southern Africa, say reports. Lawyers working with the cross-boarder competition regulator Comesa say the watchdog is charging merger filing fees comparable to those seen in the US, much higher than in South Africa. Comesa, or the Common Market for Eastern and Southern Africa, is also lacking a threshold limit when determining filing fees, which are calculated as .5 percent of the merging parties’ turnover or their combined asset values. One lawyer, Daryl Dingley, a partner at Webber Wentzel, said that while the watchdog is moving in a positive direction, Comesa will need to clarify the merger filing process and strengthen its kills. Further, there can be confusion when determining whether to file with a national competition regulator or with the regional Comesa.
Full Content: BDLive
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