Photo by: Duane Daws
Telkom’s purchase of Business Connexion cleared its final hurdle when it was issued with a clearance certificate by the Takeover Regulation Panel on Thursday.
Earlier this week, on Tuesday, the Competition Tribunal approved the deal.
The deal is now ready to proceed with the purchase of the entire issued share capital, comprising ordinary shares and A shares. The companies also announced that the JSE had given approval for the delisting of BCX shares and they would be suspended on August 17 and finally delisted on August 25.
Following the announcement, Telkom shares went up 1.09% to R65.61 per share.