South Africa’s Competition Commission has recommended the approval of the proposed merger between UK mobile group Vodafone and its 50 per cent-owned South African subsidiary Vodacom.

South Africa’s Competition Commission has recommended the approval of the proposed merger between UK mobile group Vodafone and its 50 per cent-owned South African subsidiary Vodacom. Under the terms of the transaction, Vodafone will acquire an additional 15 per cent stake in Vodacom from its partner in the venture, Telkom South Africa. Vodacom shares will then be listed on the Johannesburg Stock Exchange and Telkom will dispose of its remaining 35 per cent stake among its own shareholders. The deal is now awaiting final approval from the Competition Tribunal of South Africa.