Telkom/BCX merger hearings continue
The proposed merger between Telkom and Business Connexion is still being decided on.
02 April 2007
Despite alleged divisions within Business Connexion (BCX) on whether the company should merge with Telkom, the deadline for the proposed Competition Tribunal hearings has been extended from 15 March to 31 May.
This grants Telkom the opportunity to fulfil conditions for the transaction to take place. The remaining condition that needs to be met before the deal may be concluded is approval from the Competition Tribunal.
Last year, the Competition Commission recommended against the merger. The Competition Commission has informed the tribunal that BCX's bottom line has been adversely affected by the pending deal.
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