Vodacom and Maziv have said they will consider their options after the Competition Tribunal releases its reasons for prohibiting the deal.
Vodacom said it could appeal the Competition Tribunal’s decision to block a proposed transaction where the mobile operator hoped to acquire a stake in Vumatel and DFA’s parent company for a combination of cash and assets.
Joosub said their investment of up to R14 billion would have changed millions of lives and created thousands of jobs. This was on the basis that Vodacom and Vumatel’s parent company, Community Investment Ventures Holdings committed to:Pass at least one million new homes in lower-income areas over a 5-year periodEstablish a R300-million enterprise and supplier development fund to prioritise SMME developmentUnder the terms of the proposed transaction, Vodacom had offered a combination of assets and cash of at least R13.2 billion for a 30% shareholding in Maziv.
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