{"id":92384,"date":"2015-07-03T12:43:20","date_gmt":"2015-07-03T10:43:20","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=92384"},"modified":"2015-07-03T12:43:20","modified_gmt":"2015-07-03T10:43:20","slug":"icasa-adds-to-list-of-vodacom-neotel-deal-requirements","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/92384\/icasa-adds-to-list-of-vodacom-neotel-deal-requirements\/","title":{"rendered":"Icasa adds to list of Vodacom-Neotel deal requirements"},"content":{"rendered":"<p>Icasa has added to a list of stringent requirements in the Vodacom-Neotel acquisition deal, <strong><a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2015-07-03\/vodacom-must-meet-black-ownership-rule-on-neotel-regulator-says\" target=\"_blank\">Bloomberg reported<\/a><\/strong>.<\/p>\n<p><a href=\"http:\/\/mybroadband.co.za\/news\/business\/129388-vodacom-neotel-deal-approved.html\"><strong>In June 2015 Icasa approved<\/strong><\/a> the R7-billion deal between Vodacom and Neotel, adding that the takeover will be subject to compliance with a local ownership law and the roll-out of broadband infrastructure and services.<\/p>\n<p>The regulator has now published the requirements related to the deal:<\/p>\n<ul>\n<li><strong>BEE requirement:<\/strong> Vodacom and Neotel are required to comply with the requirement that\u00a030% of the equity ownership of the individual licence be\u00a0held by persons from historically disadvantaged groups.<\/li>\n<\/ul>\n<ul>\n<li><strong>Broadband roll-out:<\/strong> Icasa is considering imposing a condition that at least 25% of any broadband roll-out by Neotel following the deal be undertaken in under-serviced areas.<\/li>\n<\/ul>\n<p>Icasa explained that it recognises it may not be practicable for Vodacom and Neotel to comply with the BEE Requirement from the onset.<\/p>\n<p>\u201cTherefore the Authority wishes to determine the reasonable period within which the Applicants should be permitted to ensure compliance with the BEE Requirement,\u201d said Icasa.<\/p>\n<p>This news follows the <strong><a href=\"http:\/\/mybroadband.co.za\/news\/business\/130850-vodacom-neotel-deal-approval-with-conditions.html\">Competition Commission recommendation<\/a><\/strong>\u00a0to the Competition Tribunal that the merger between Vodacom and Neotel be approved, with conditions.<\/p>\n<p>The Competition Commission has its own conditions for the deal, which included a limitation on the use of Neotel\u2019s spectrum by Vodacom.<\/p>\n<p>The Competition Commission recommended that Vodacom shall not directly or indirectly use Neotel\u2019s spectrum for a period of two years from the approval date.<\/p>\n<p>It also requires Vodacom to commit to a R10-billion investment in fixed network, data, and connectivity infrastructure.<\/p>\n<p>It also has a BEE requirement, where Vodacom must, within a period of 24 months following the approval date, ensure that the value of shares in its share capital held by black economic empowerment shareholders in Neotel increase by an amount of R1.4 billion.<\/p>\n<h3 class=\"my-4\">More on Vodacom\/Neotel<\/h3>\n<p><strong><a href=\"http:\/\/businesstech.co.za\/news\/general\/92158\/commission-rules-on-spectrum-in-vodacomneotel-merger-approval\/\">Commission rules on spectrum in Vodacom\/Neotel merger approval<\/a><\/strong><\/p>\n<p><strong><a href=\"http:\/\/businesstech.co.za\/news\/mobile\/91020\/vodacom-neotel-icasa-approval-raises-eyebrows\/\">Vodacom-Neotel Icasa approval raises eyebrows<\/a><\/strong><\/p>\n<p><strong><a href=\"http:\/\/businesstech.co.za\/news\/telecommunications\/90746\/vodacom-neotel-deal-gets-approval\/\">Vodacom-Neotel deal gets approval<\/a><\/strong><\/p>\n<p><strong><a href=\"http:\/\/businesstech.co.za\/news\/mobile\/87526\/vodacom-disappointed-by-neotel-wait\/\">Vodacom disappointed by Neotel wait<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Icasa has added to a list of stringent requirements in the Vodacom-Neotel acquisition deal, Bloomberg reported.<\/p>\n","protected":false},"author":31,"featured_media":87548,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[26,36,261,27],"class_list":["post-92384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile","tag-headline","tag-icasa","tag-neotel","tag-vodacom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/92384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=92384"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/92384\/revisions"}],"predecessor-version":[{"id":92392,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/92384\/revisions\/92392"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/87548"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=92384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=92384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=92384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}