Vumatel and DFA are now known as Maziv.
The Competition Tribunal has asked fiber optic operator Frogfoot and integrated ICT infrastructure provider Vox to provide confidential documents relating to the proposed merger between Majib and Vodacom.
In a statement, the tribunal said: “Subject to a confidentiality regime, Frogfoot Networks and Vox Telecommunications, Vodacom and Business Venture Investments (BVI), will be subject to a tribunal's agreement with the Competition Commission.'' “We have ordered each to provide access to the allegedly confidential information they provided.” Inquiry into the proposed merger of Vodacom and his BVI. ”
Frogfoot and Vox are subsidiaries of the newly formed holding company Vivica, BVI (Maziv), the parent company of textile companies Dark Fiber Africa and Vumatel.
The court's order came after the Competition Commission recommended in August that the planned Vodacom-Mazib merger be prohibited.
According to the competition watchdog, the proposed agreement is likely to materially impede or reduce competition in several markets and the terms proposed do not adequately address the resulting adverse effects on competition. That's what it means.
Under the agreement, Vodacom aims to acquire a 30% stake in the newly formed Maziv, with an option to increase its stake by 10%.
Maziv was founded by Remgro-owned Community Investment Ventures Holdings (CIVH) after the company merged Vumatel and DFA into one giant fiber infrastructure company.
CIVH told ITWeb last year that it was hopeful of the competition tribunal giving the go-ahead for a R10-billion deal between its fiber optics arm Mazibu and Vodacom.
Small internet service providers have since expressed concerns about the proposed merger. It will remove them from the market.
The court stated that its order provides that only external legal representatives and independent economic experts (independent advisors) of the merging parties will have access to the relevant documents, provided that they provide appropriate signed confidentiality undertakings. He points out that it means that it is allowed.
According to the paper, in August 2023, the European Commission, which investigates proposed large-scale merger transactions and refers them to the court for adjudication, recommended to the court that the proposed merger should be prohibited. did.
The committee added that it had received submissions from various third parties during its investigation into the merger, including Frogfoot and Vox.
The watchdog said Vodacom and the BVI applied to the court last Wednesday for access to all submissions, documents and data provided to the commission by Frogfoot and Box during the merger investigation.
Mr Frogfoot and Mr Vox opposed the application.
“In terms of the court's order issued today, both Frogfoot and Box have made clear to Vodacom all information contained in, referenced or relied upon in the Commission's merger report, which they claimed to be confidential. “It must be provided to the BVI's independent advisors, which is contained in a paragraph of the commission's report on Vox and in a letter submitted by Vox to the commission,” the watchdog group said.
The court's order also establishes a limited access regime for other information that Vox and Frogfoot claim as confidential and that do not fall into the categories listed above.