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MTN, iTalk merger approved

Jan 06 2009 20:44

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Johannesburg - The Competition Tribunal on Tuesday approved the merger between mobile network operator MTN and iTalk Cellular.

The ruling came despite efforts by Huge Group, which also wanted to buy iTalk, to get the acquisition blocked.

MTN, which provides mobile voice and data services, would acquire the remaining 59 percent of ITalk's shares, said tribunal registrar Lerato Motaung in a statement.

The company would thus hold all of iTalk's issued shares and exercise sole control over iTalk - which sells airtime, handsets and related products.

- Sapa

 
 
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