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Vodacom proceeds with acquisition of Neotel, drops spectrum
2015-12-08 13:18:00| Telecompaper Headlines
(Telecompaper) Vodacom South Africa announced it will proceed with the acquisition of Neotel, but has dropped the group's spectrum from the deal. In a statement, Vodacom said it reached a a revised agreement with Neotel on a modified transaction that does not include Neotel's spectrum. The new deal will see it acquire the majority of Neotel's assets related to its fixed-line business as a going concern, but excluding Neotel's spectrum licences. At the same time, Neotel will offer a roaming arrangement to all the mobile network operators, including Vodacom South Africa. The revised agreement addresses some of the concerns of rival operators and regulators that the takeover would give Vodacom too strong a position in terms of spectrum resources. Vodacom and Neotel have submitted the revised agreement to the Competition Tribunal, which has scheduled a pre-hearing for 10 December.
Tags: acquisition
spectrum
proceeds
drops
Category:Telecommunications