MTN Bharti deal awaits two country approval September 15, 2009
The MTN-Bharti merger is now going to have to wait for regulatory approval in both South Africa and India.
According to Lesetja Kganyago, the director general of the National Treasury, the department is now applying its mind to the exchange control aspects of the deal.
Speaking in the margins of the Africa Emerging Markets Forum on Monday the DG said that the South African approval of the scheme will probably be complete before the end of this year, but that he could not speak for the Indian government.
The department of communications in this country will also be involved in considering the approval and in the end it will have to be approved by cabinet.
Questions that will occupy the minds of the South African government are what the foreign direct investment benefit will be, as opposed to the expected outflow of dividends.
"We are going to have to weigh the net benefit to both countries," Kganyago said. - I-Net Bridge
Social bookmarking allows users to save and categorise a personal collection of bookmarks and share them with others. This is different to using your own browser bookmarks which are available using the menus within your web browser.
Use the links below to share this article on the social bookmarking site of your choice.
