Photo by: Bloomberg
The Common Market for Eastern and Southern Africa (Comesa) Competition Commission has unconditionally approved telecommunications group Telkom’s proposed R2.67-billion takeover of JSE-listed Business Connexion (BCX).
The Namibian Competition Commission, the Tanzania Fair Competition Commission and the Competition Authority of Botswana have already given their approval for the deal, which was first announced to the market in May 2014.
South Africa’s competition authorities have yet to approve the deal.
Once these approvals have been secured, final approval for the takeover would be sought from the Takeover Regulations Panel and the JSE.