Vodacom is accused of lying in its awarding of a stake to companies in its R7.5 billion BEE deal to Thebe Investment and Royal Bafokeng Holdings. This is according to a report in the Sunday Independent.<\/p>\n
The party accusing Vodacom of misrepresentation is Tiger Consortium Telecommunications, a losing bidder in the BEE deal who is now demanding R100 million from Vodacom in damages.<\/p>\n
The report stated that Tiger Consortium Telecommunications said in its court papers that \u201cthe selection process was misleading, procedurally flawed and implemented in bad faith”.<\/p>\n
It said further that Vodacom \u201cfailed to mention a fractional BEE allocation in or during the bidding process of the BEE stake,” the paper reported.<\/p>\n
This is in breach of the spirit of the Broad-Based Black Economic Empowerment Act of 2003 and Trade and Industry\u2019s 2007 BEE code of good practice, it said.<\/p>\n
Vodacom is reportedly demanding particulars of the misrepresentation and of Tiger\u2019s claim that Vodacom plagiarised the consortium\u2019s funding model.<\/p>\n
Tiger Consortium Telecommunications unsuccessfully tried to get its hand on a KPMG forensic investigation report into irregularities at Vodacom.<\/p>\n
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