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Johannesburg - South African cellular operator MTN said on Tuesday its offer for Dubai-based Investcom had been declared unconditional.
All the conditions of MTN's offer to shareholders of Investcom have been satisfied or waived and the offer was now declared unconditional in all respects, the firm said in a statement.
The group also said it will seek to acquire all Investcom's shares once it receives acceptances from 90% of shareholders.
The South African mobile operator, Africa's largest, said in May that it had agreed to buy Investcom for $5.53bn to
boost its subscriber base to more than 28 million.
The price was to be settled in cash or through a combination of cash and issue of new shares to Investcom shareholders
and MTN said an average of 70.6% of Investcom shareholders had indicated they would support the mixed cash/shares offer.
MTN shares closed 0.28% higher at R54.40, outperforming the Top-40 index of blue chips which was 0.24% lower.