CA demands answers on 'surprise' Mascom deal

Friday, March 15, 2019

The pension fund wants a piece of the action

The Competition Authority (CA) is asking Mascom hard questions after the regulator was apparently caught by surprise as MTN announced a US$300 million (P3.2bn) deal to sell its stake in the mobile giant.

The South African group has said it expects its planned transaction with Econet Wireless to be completed in three months time, pending regulatory approvals.

BusinessWeek is however authoritatively informed that the CA has written a letter to Mascom and to MTN demanding answers on the planned transaction. The Botswana Communications Regulatory Authority, meanwhile, is examining Sections 42 and 43 of its Act, which require licence holders to notify the regulator in writing of any change in ownership.

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CA demands answers on 'surprise' Mascom deal

The Competition Authority (CA) is asking Mascom hard questions after the regulator was apparently caught by surprise as MTN announced a US$300 million (P3.2bn) deal to sell its stake in the mobile giant.