Vodacom Maziv merger prohibited by Competition Tribunal
The Competition Tribunal on Tuesday prohibited the proposed acquisition of the fibre assets of Community Investment Ventures Holdings (CIVH) by telecommunications group Vodacom.
The Competition Tribunal’s reasons for its decision will be issued in due course.
The proposed transaction would have combined the country’s largest mobile operator with one of South Africa’s largest fibre infrastructure players.
The deal would have resulted in Vodacom acquiring joint control of Business Venture Investments, which was renamed Maziv, a wholly owned subsidiary of CIVH, which has two main operating subsidiaries, Dark Fibre Africa and Vumatel.
In terms of the proposed transaction, Vodacom intended to acquire a certain shareholding in Maziv and to sell certain assets to Maziv.
This decision followed the Competition Commission’s recommendation that the Competition Tribunal prohibit the proposed transaction.
“The Competition Tribunal’s decision to prohibit the proposed merger follows an extensive hearing that took place over 26 days between May 20 and September 27. The parties also made further written submissions after this, the last of which was received by the Tribunal on October 16,” the Competition Tribunal said in a statement on Tuesday.
During the hearing, the Competition Tribunal heard evidence from various factual witnesses including from each of the merging parties, Frogfoot Networks, MTN and Rain, as well as Telkom divisions Telkom Consumer and Small Business and Mobile Networks.
At the tribunal’s request, Hero Telecoms also provided factual testimony.
In addition to the factual witnesses of the firms, four economic experts presented evidence on behalf of the Competition Commission, the merging parties and MTN, while the Department of Trade, Industry and Competition and the Communication Workers’ Union also participated in the proceedings.
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