Vodacom has changed the terms of its acquisition of Neotel, and won’t be taking over its spectrum.
Following opposition to the transfer of Neotel’s licences to Vodacom, the two companies have agreed on an amended for of the proposed transaction.
The modified deal will now propose that Vodacom South Africa acquire the majority of Neotel’s assets related to its fixed line business as a going concern. However, the acquisition would exclude Neotel’s licenses relating to spectrum, ECN and ECNS.
Instead, Neotel would offer a roaming arrangement to all the mobile network operators including Vodacom South Africa.
The new transaction documentation has been submitted to the Competition Tribunal, and a pre-hearing has been schedule for 10 December 2015.