South Africa’s anti-trust watchdog will not oppose the R13.2 billion ($743 million) fiber transaction between Vodacom Group and Remgro at the Competition Appeal Court, increasing chances that the deal will go ahead.
The Competition Commission reached a deal with Vodacom and Maziv — a wholly owned unit of Remgro’s Community Investment Ventures Holdings — on revised conditions that substantially address the anti-trust concerns raised when when it initially opposed the transaction, the regulator said in an emailed statement on Tuesday.
Vodacom’s proposed acquisition of 30% of Maziv was blocked by the anti-trust tribunal in October.
The telecoms giant and Remgro then turned to the Competition Appeal Court that is scheduled to hear the matter from July 22 to 24.
In a rare move, South African Minister of Trade, Industry and Competition Parks Tau also appealed the order that prohibited the deal.
The revised conditions include improved capital-expenditure commitments by Maziv,
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