The R7 billion deal between Vodacom and Neotel has been approved by South Africa\u2019s communications regulator, Icasa, according to Bloomberg.<\/p>\n
In May 2014, Vodacom and Neotel announced that the two companies had entered into a deal that would see Vodacom acquire 100% of Neotel.<\/p>\n
The takeover will be subject to compliance with a local ownership law and adherence to terms of the rollout of broadband infrastructure and services, an Icsa spokesperson told Bloomberg.<\/p>\n
\u201cWe will work with ICASA to finalize the conditions of the approval,\u201d Vodacom said in a statement.<\/p>\n
In May, rival operator, Cell C’s CEO Jose Dos Santos said that he would do whatever it takes to block the acquisition.<\/p>\n
\u201cWe will keep them in court for as long as the legal system allows it, which is two years,\u201d Dos Santos said.<\/p>\n
\u201cI have an entire legal team on this\u2026.we will do whatever it takes, legally,\u201d Dos Santos said.<\/p>\n
According to Cell C, a successful deal would \u201cunfairly\u201d strengthen Vodacom\u2019s ability to compete, should the group gain control of Neotel\u2019s spectrum.<\/p>\n
Vodacom disappointed by Neotel wait<\/a><\/strong><\/p>\n We\u2019ll do whatever it takes to block Vodacom\/Neotel deal: Cell C<\/a><\/strong><\/p>\n