Telkom, BCG transaction awaits approvalby TINTSWALO BALOYI
PRETORIA, (CAJ News) – TELKOM and Business Connexion Group Limited said they were committed to their transaction, which is pending final approval by The South African Competition Tribunal.
According to a statement on Tuesday, Telkom and BCG remain in ongoing discussions with the Independent Communications Authority of South Africa, as the regulator of the industry.
Telkom and BCG applied to ICASA in August 2014, for written approval for a change in control of the shareholding of BCG from current shareholders of BCG, to Telkom.
The proposed transaction between BCG’s current shareholders and Telkom will result in Telkom acquiring the entire issued share capital of BCG in terms of an Implementation Agreement entered into between the parties on the 21st of May 2014.
Subsequent to this application, both BCG and Telkom have further reviewed the Electronic Communication Act.
– CAJ News
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