Neotel is currently embroiled in a scandal involving alleged bribery claims, according to the Mail & Guardian.<\/p>\n
The M&G’s Centre for Investigative Journalism , amaBhungane, wrote an expos\u00e9 detailing how Neotel’s auditors Deloitte blew the whistle on R100 million in questionable payments to a company called Homix.<\/p>\n
The payments are allegedly linked to a bid to clinch R2-billion worth of deals from Transnet.<\/p>\n
According to the M&G, Deloitte questioned the “commerciality” of the fees, and reported the matter to the Independent Regulatory Board of Auditors (IRBA), on suspicion that an unlawful act or omission had taken place.<\/p>\n
Neotel’s board subsequently commissioned a law firm to conduct its own investigations into the matter, and, according to the report, has placed CEO Sunil Joshi and CFO Steven Whiley on special leave.<\/p>\n
Neotel told amaBhungane that, to the best of its\u00a0knowledge, the investigation commissioned by the board made no finding of corruption or illegal activities, while Transnet has denied any involvement.<\/p>\n
The revelation comes at a senstive time for Neotel, as the company is in the process of being acquired by\u00a0Vodacom for R7 billion.<\/p>\n
The deal is all but done, with the final hurdle the Competition Tribunal hearings scheduled for the end of 2015.<\/p>\n
The acquisition is being opposed by Vodacom’s competitors, Telkom, MTN, and Cell C.<\/p>\n
You can read the full report in the Mail & Guardian<\/a>.<\/p>\n Commission rules on spectrum in Vodacom\/Neotel merger approval<\/a><\/strong><\/p>\n Vodacom-Neotel Icasa approval raises eyebrows<\/a><\/strong><\/p>\nMore on Vodacom\/Neotel<\/h3>\n