Vodacom and Neotel are revising the conditions under which the proposed acquisition of Neotel will take place.
Vodacom today issues a SENS (Stock Exchange News Service) update on the regulatory approvals required for the proposed acquisition by Vodacom of 100% of the issued share capital of Neotel.
The company advises shareholders that Vodacom is in discussions with Neotel and its shareholders to explore a revised transaction structure.
The outcome of these discussions will directly impact the extent of the approval being sought from the Competition Tribunal and the scope of the Competition Tribunal hearing, it states.
Because of this, the two companies have requested that the hearing be postponed.
