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Altron muscle could help Bytes acquisitions

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Speculation that Bytes Technology Group is keen to acquire Business Connexion could have gained teeth following yesterday's shareholders' vote giving Altron a 100% stake in the company.

The additional cash available to the Bytes will allow it to pursue a strategy of acquisitions and overseas expansion.
On 24 October, Altron made an offer for the shares of Bytes and Altech that it didn't already hold and yesterday the offer was accepted by Bytes shareholders but rejected by Altech.
Altron with thus acquire 42,3% of Bytes, pending approval from the High Court next week.
Altech's minority shareholders, however, didn't approve the scheme and so will remain as a seperately-listed entity.
Lat year, Telkom put in a bid to acquire Business Connexion, but the merger was turned down by the Competition Commission. At that time there was speculation that Bytes was bidding for the company.