Mobile operator MTN is taking a neutral stance in its rival Vodacom’s bid to merge with fibre infrastructure company Maziv.
Under the deal, Vodacom is looking to acquire a 30% stake in the newly-created Maziv, with an option to increase the stake by 10%. In addition, they note, the investment will enable Maziv to extend fibre infrastructure to an estimated one million new households in lower income areas, create up to 10 000 new jobs, commit at least R10 billion to capital expenditure, and facilitate the creation of small to medium enterprises through a fund formed specifically for this purpose, with R300 million of committed capital.
“We can confirm that we are participating in the Competition Tribunal’s merger proceedings in the Vodacom and Maziv transaction.”