An 11th-hour attempt by Huge Group to halt MTN's purchase of all of iTalk has failed, with the cellular network provider winning permission to go ahead with the deal.
According to a report in Business Day, the Competition Tribunal heard Huge's arguments that MTN would probably close iTalk down if the deal goes through.
MTN rejected the allegations and the tribunal decided to allow the deal to pass.
MTN already ownsd 41% of iTalk and, last year, Huge entered into a deal to a majority stake in the company. MTN later exercised its right to buy up the remaining 59%, effectively cutting Huge off.