Update on the Telkom and Business Connexion transaction that is before the Authority
The Independent Communications Authority of South Africa (“the Authority”) notifies the media, stakeholders and the public that it has received a notification from Business Connexion Group Limited (BCG) (Pty) Ltd and Telkom SA SOC Limited (Telkom) indicating that the parties are withdrawing the application for regulatory approval of the Telkom/BCG transaction in terms of section 13(1) and 32(2A) of the Electronic Communications Act, 2005 as filed with the Authority on 29 August 2014.
The parties have indicated that they will seek an audience with the Authority in due course to explain the rationale and basis for the withdrawal of the application.
Pending the contemplated briefing meeting by the parties, the Authority is in no position to comment on the current status of, nor on the regulatory implications for, the deal as a result of the withdrawal of the application for regulatory approval.
Enquiries:
Paseka Maleka
Cell: 079 509 0702
Tel: 011 566 3455
E-mail: pmaleka@icasa.org.za
