The Competition Commission has okayed the acquisition by New York-listed IHS Towers of thousands of towers owned by MTN South Africa, but has attached stringent conditions to the deal.
has okayed the acquisition by New York-listed IHS Towers of thousands of telecommunications towers owned by MTN South Africa, but has attached stringent conditions to the deal.
“The commission was particularly concerned about the ability of SMME and HDP tower vendors and independent tower operators to effectively participate in and expand in the tower infrastructure market, particularly at a time when mobile operators are considering the technical and other imperatives of rolling out 5G technology,” it said in a statement.MTN may not retrench any of its employees in South Africa as a result of the merger for a period of 24 months from the implementation date.
“Further particulars of the [black economic empowerment] conditions are subject to a confidentiality claim made by the merging parties. The merging parties’ confidentiality claim will be adjudicated by the Competition Tribunal,” the commission said, without elaborating on the reason for the confidentiality.
Further particulars of the [black economic empowerment] conditions are subject to a confidentiality claim made by the merging parties
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