Legal tussle looms in P3bn Mascom deal

A legal opinion sought by the Botswana Public Officers Pension Fund (BPOPF) on Zimbabwe billionaire, Strive Masiyiwas bid to take control of Mascom, points to a potential showdown that could hinder the P3billion deal.

The pension fund, which holds 40% in Mascom, sought legal advice after its major partner in Mascom, MTN, announced the deal to sell out to Masiyiwa’s Econet Group recently. Econet presently holds a seven percent stake in Mascom, which will increase to 60% should Masiyiwa’s transaction go through.

This week, authoritative sources close to the transaction told Mmegi that the counsel sought by the pension fund had suggested that they (BPOPF) could successfully challenge the deal under clause 12 of the shareholders’ agreement it has with MTN. The clause reportedly requires MTN to have given BPOPF the first offer of the shares being sold before any other party.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

Have a Story? Send Us a tip
arrow up