Telkom beds Tribunal approval, now in last leg of BCX acquisition
Following the Competition Tribunal’s approval, with conditions, of JSE-listed Telkom’s play for information and communication technology (ICT) firm Business Connexion (BCX), the telecommunications giant now eyed the approval of the Takeover Regulations Panel and the JSE.
The R2.67-billion deal was expected to bolster Telkom’s turnaround and growth aspirations, while improving and enhancing Telkom’s ICT service offering to its customers, said Telkom CEO Sipho Maseko on Wednesday at a media briefing in Rosebank.
The Competition Commission gave its conditional approval in May, followed by the Tribunal nod on Tuesday.
Telkom was now gearing up to conclude the deal that had been 816 days in the making.
“The last hurdle is now probably closer, rather than further away,” he added, noting that the deal’s implementation and integration plan would be initiated around September 1, subject to the approval of the takeover panel and the delisting of BCX from the JSE.
The Tribunal-imposed conditions included a price freeze on affected products in the upstream by Telkom, a 60-person limit on the number of job losses arising from the tie-up, the ring-fencing of BCX in relation to monitoring conditions and the inclusion of the copper network offering to the affected products.
“The conditions imposed are not onerous . . . nor do they bring undue burden on the company,” Maseko added.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...
VISIT SHOWROOM
M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
