• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

South Africa Minister Appeals Block of $730 Million Vodacom Deal

9 months ago
in Business, Features, highlights, Home, home-news, Insurance, latest News
1 min read
0 0
0
157
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

South Africa Minister Appeals Block of $730 Million Vodacom Deal

 South Africa’s minister of trade, industry, and competition is appealing an order by the nation’s Competition Tribunal that blocked Vodacom Group Ltd.’s 13.2 billion-rand ($730 million) deal to buy a stake in Remgro Ltd.’s fiber businesses.

Parks Tau, whose ministry also oversees the competition regulators in the country, is seeking to overturn the decision and allow the merger to proceed, according to the appeal document seen by Bloomberg News.

This rare move by the newly appointed minister is a blow to South Africa’s antitrust regulators, who blocked the acquisition in a shock decision in October. The parties involved in the deal have argued that significant investment is needed in South Africa, especially for digital infrastructure in lower-income areas.

“The South African government backing for Vodacom’s acquisition of a stake in fiber operator Maziv, could add to pressure on the Competition Appeals Court to approve the deal,” Bloomberg Intelligence analyst John Davies said. “Still, a final decision may be many months away and deal terms are being renegotiated, which is reasonable, given it was announced three years ago.”

A large number of parties have been called to respond to the appeal, including Vodacom’s biggest cross-town rival MTN Group Ltd. The industry is largely supportive of the deal, as there is an agreement that consolidation is needed for future growth prospects.

As part of Vodacom’s deal, the plan is to invest in fiber rollout in low-income areas, spending 10 billion rand and providing 10,000 jobs, the company said previously.

RelatedPosts

Asante Gold Secures $500m Financing Package, Restructures Kinross Obligations

Women in Maintenance and Engineering: Much has Changed, but There’s Still a way to go

Insurance Penetration in Ghana Stagnates at 1% in 2024 

“We support the appeal as consolidation is needed in South Africa to support accelerated investment in digital infrastructure and services,” MTN CEO Ralph Mupita said in response to questions. “South Africa is lagging this important global trend at a time technology is accelerating and transforming societies.”

Source: bloomberg
Via: norvanreports

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Women’s Premier League Players Celebrate Locker Room Bonus Extension by GFA and betPawa

Crystal Palace’s Europa League Dreams End as CAS Dismisses Appeal Against Demotion to Conference League

African Development Bank to Mobilise $8bn for Africa’s Largest Airport in Ethiopia

The Airline Industry’s Dirty Secret: Clean Jet Fuel Failures

Trump Targets Banks With Order Barring Discriminatory ‘Debanking’

Niger’s Military Government Seizes Control of Industrial Gold Mine From Australian Operator

Trending

Business

Asante Gold Secures $500m Financing Package, Restructures Kinross Obligations

August 11, 2025

Asante Gold Secures $500m Financing Package, Restructures Kinross Obligations Asante Gold Corporation has entered into definitive agreements...

Women in Maintenance and Engineering: Much has Changed, but There’s Still a way to go

August 11, 2025

Insurance Penetration in Ghana Stagnates at 1% in 2024 

August 11, 2025

Women’s Premier League Players Celebrate Locker Room Bonus Extension by GFA and betPawa

August 11, 2025

Crystal Palace’s Europa League Dreams End as CAS Dismisses Appeal Against Demotion to Conference League

August 11, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.