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Tag: neotel
Vodacom's new Neotel deal excludes spectrum
2015-12-08 01:00:00| Total Telecom industry news
South African operator submits revised transaction to Competition Tribunal; hearing to take place this week.
Tags: deal
spectrum
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neotel
Vodacom in talks with Neotel to revise acquisition terms
2015-11-23 09:43:00| Telecompaper Headlines
(Telecompaper) Vodacom said it started talks with South African operator Neotel about revising the structure of the proposed takeover of the operator. The operator also asked for a Competition Tribunal hearing on the deal to be postponed. The outcome of these discussions will directly impact the extent of the approval being sought from the Competition Tribunal and the scope of the hearing, the company said. The review was scheduled to start in Pretoria on 23 November, but has since been delayed. No reason was disclosed for the postponement. Vodacom was granted provisional approval by South Africa's antitrust and communications regulators earlier this year to buy Neotel, expanding its spectrum holdings and internet offering. The acquisition was first announced in May 2014 for ZAR 7 billion including debt. Conditions imposed by the regulator included the extension of broadband to rural areas and a pledge not to cut Neotel jobs. The deal has been opposed by competitors including MTN, which said the acquisition would give Vodacom dominance of South Africa's high-speed internet market.
Tags: terms
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revise
Vodacom to rework Neotel takeover
2015-11-23 01:00:00| Total Telecom industry news
South African mobile operator requests postponement in Competition Tribunal hearing as it goes back to the drawing board on fixed operator acquisition.
Tags: takeover
rework
vodacom
neotel
Icasa: Vodacom must meet BEE rules on Neotel
2015-07-04 08:41:19| Telecom - Topix.net
Vodacom Group Ltd, the African unit of Vodafone Group PLC, can buy Neotel Pty Ltd if it complies with South Africa's black-ownership rules and brings broadband internet to rural areas, the Independent Communications Authority of South Africa said. Black economic-empowerment groups must hold 30-percent equity of the individual licence that is being transferred, Icasa said in a government gazette on Thursday.
South Africa regulator approves Vodacom bid for Neotel
2015-07-01 10:09:00| Telecompaper Headlines
(Telecompaper) South Africa's Competition Commission has recommended to the Competition Tribunal that Vodacom's intended purchase of Neotel be approved on condition that the mobile company does not cut Neotel jobs and invests ZAR 10 billion in the company within five years. The ZAR 7 billion deal was approved by South Africa's communications regulator, Icasa, earlier in June. The commission said Vodacom shall not directly or indirectly use Neotel's spectrum for the purpose of offering wholesale or retail mobile services to any of its customers for a period of two years from the approval date or 31 December 2017, whichever is earlier. The Commission found that the proposed transaction is likely to substantially lessen or prevent competition in the mobile services market. Vodacom is the market leader in mobile services markets and the additional spectrum from Neotel will result in spectrum concentration effects that will likely consolidate Vodacom's dominant position. According to the competition commission, the acquisition will confer first mover advantages to Vodacom in network speed, capacity and mobile offerings. Vodacom will not be constrained by other competitors as they are unlikely to match its offering. These factors, the commission said, taken together will likely lead to reduced choice and higher prices to end customers in the absence of effective constraints on Vodacom. The acquisition will now go before the competition tribunal for a final decision. Competitors including MTN, Africa's biggest wireless operator, and Cell C have previously said they oppose the purchase because they say Vodacom would become too dominant.
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