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Johannesburg - The Competition Tribunal on Tuesday
dismissed with costs the application by the Huge Group (HUG) to intervene and participate in the merger proceedings between MTN and iTalk Cellular.
The Competition Commission had referred the merger to the Tribunal last month recommending that it approve this merger without conditions.
In terms of the proposed transaction MTN, an existing shareholder, intends to acquire the remainder of the shares (59%) in iTalk by exercising its pre-emptive right according to the shareholder's agreement.
Huge opposed the merger because it alleged that MTN will use its control of iTalk as a tool to diminish competition in the service provider market and restrict the ability of service providers to spark competition in the upstream market for mobile voice telephony products and services.
In particular Huge was concerned that MTN would use its control of iTalk to eliminate the discounting arrangement that is currently secured through the service provider agreement between MTN and iTalk.
The merger hearing will commence on January 6 2009.
- I-Net Bridge