MTN welcomes Competition Tribunal’s approval of Verizon SA acquisition

A statement released by MTN, says that it welcomes the decision made by the Competition Tribunal on 8 January 2009 to unconditionally approve the merger between MTN and Verizon SA.

MTN SA MD, Tim Lowry conveyed his satisfaction with the Tribunal ruling and added that, “All regulatory conditions have now been met in order to proceed with the acquisition and MTN expects to complete the transaction soon.”

Following on from the recent approval of the iTalk Cellular acquisition, MTN is, through these deals, enhancing its value proposition, building capacity and broadening its reach to enhance its product and service offering to customers and clients, Lowry said.

The acquisition will bolster the scale and product offering of MTN’s existing South Africa–based ISP, MTN Network Solutions, while strengthening its regional presence.