Just days after winning approval for its acquisition of iTalk, MTN has once again received the green light from the Competition Tribunal, which has unconditionally approved the merger between MTN and Verizon South Africa.
In terms of the transaction Verizon European Holdings is selling its 69,38% interest in Verizon South Africa to MTN.
MTN SA MD Tim Lowry says he is satisfied with the Tribunal ruling and adds: "All regulatory conditions have now been met in order to proceed with the acquisition and MTN expects to complete the transaction soon."
Following on from theapproval of the iTalk Cellular acquisition, MTN is, through these deals, enhancing its value proposition, building capacity and broadening its reach to enhance its product and service offering to customers and clients, Lowry says.
The acquisition will bolster the scale and product offering of MTN's existing South Africa-based ISP, MTN Network Solutions, while strengthening its regional presence.