Economy

SA Trade Minister challenges tribunal's block on Vodacom fibre merger

Date: Nov 28, 2024

South Africa's Minister of Trade, Industry and Competition, Parks Tau, has lodged an appeal against the Competition Tribunal's decision to prevent telecommunications giant Vodacom from acquiring a majority share in Remgro's fibre operation, Maziv.

The proposed merger, which promised to establish the country's most extensive fibre network, was halted by the tribunal, sparking a wave of surprise as the competition authorities operate under the Minister's own department.

Both Vodacom and Maziv have signalled their intention to challenge the tribunal's ruling. The Competition Commission has refrained from commenting on the ongoing proceedings.

"At this stage, we are not in a position to comment further as we have not yet reviewed the substantive issues raised by the appellants," stated Siyabulela Makunga, the spokesperson for the commission.

--SABC/ChannelAfrica--

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