Vodafone gains approval to take-over Vodacom (South Africa)

South Africa’s Competition Tribunal (CT) gives its consent over Vodafone’s suggested acquisition of an additional 15% in mobile operator Vodacom Group Ltd. to give it majority control. Despite the opposition raised by the Communications Workers Union, that this deal would affect the workers and weaken the company, tribunal gave green signal to the deal. Presently, Vodafone and fixed-line operator Telkom SA Ltd equally owns Vodacom. Telkom is planning to vend a 15% stake in the venture to U.K.-based Vodafone and off shoot the remaining 35% to its own shareholders.
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