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New dates for Telkom’s BCX acquisition

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The acquisition of Business Connexion (BCX) by Telkom is still up in the air pending outstanding regulatory approvals.

Back in May, the Competition Commission recommended to the Competition Tribunal that the proposed transaction be approved with conditions, but approval from that body is still required. The Competition Tribunal hearing has been set down for 30 July 2015 to 07 August 2015.

Approval from the Independent Communications Authority of South Africa (ICASA) is also still required.

Once these two approvals have been obtained, final approval can be sought from the Takeover Regulation Panel.

As a result, the implementation agreement for the acquisition has again been amended to extend the long stop date from 30 June to 31 August 2015.