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UK: Neotel approval delay frustrates Vodafone

By  |  March 26, 2015

VODACOM’s parent company, Vodafone, said on Wednesday that waiting nearly a year for government regulatory bodies to approve its proposed R7bn acquisition of Neotel was unacceptably long.

Vodafone CEO Vittorio Colao said on Wednesday the Vodacom and Neotel deal was trying the limit of the group’s patience. But he stressed that delays in mergers and acquisitions were not limited to the telecommunications sector, nor to SA.

“It would be nice if mergers and acquisitions approvals took less time and were easier. I am not talking about SA (only) but generally. Any government anywhere must make sure that mergers and acquisitions don’t run long,” he said.

 

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