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24 October 2006
Deadline set for BCX, Telkom probe
BY
NICOLA MAWSON
, ITWEB SENIOR JOURNALIST
[
Johannesburg, 24 October 2006
] -
The Competition Commission has until 17 November to hand its recommendations for Telkom's takeover of Business Connexion (BCX) to the Competition Tribunal.
Yesterday, the tribunal heard an application from the commission for a fourth extension of its investigation into whether Telkom should be allowed to acquire the IT services company. Both parties had opposed a further extension.
Tribunal panel chairman Yasmin Carrim said the parties had agreed to the final extension, at which point the commission will hand its recommendation to the tribunal.
However, it is not yet clear whether the tribunal will be able to hear and decide on the matter before Telkom's 15 December deadline.
The fixed-line operator's group executive for corporate communications, Lulu Letlape, previously said its original deadline might be compromised as a result of “lack of capacity within the Competition Commission and delays in information expected from third parties”.
“Telkom and Business Connexion will hold talks to discuss strategies for dealing with the current delay, including the possibility of extending the deadline,” she said previously.
Responding to the tribunal's decision yesterday, Letlape said: “Telkom sincerely hopes the Competition Commission and third parties are able to meet deadline dates, which will allow Telkom to forge ahead with its 2010 business plan.”
The commission's investigation has been hampered by the resignation of its lead investigator and the complicated nature of the deal, which involved it appointing two independent experts. It was also hampered by delays in submissions from interested parties.
Related stories:
Telkom, BCX oppose further delays
BCX, Telkom deal faces more delays
Telkom-BCX probe drags on
BCX deal ‘unlikely' before year-end
BCX takeover delayed
Objections to BCX deal expected this week
Court nod for BCX sale to Telkom
Yesterday, the tribunal heard an application from the commission for a fourth extension of its investigation into whether Telkom should be allowed to acquire the IT services company. Both parties had opposed a further extension.
Tribunal panel chairman Yasmin Carrim said the parties had agreed to the final extension, at which point the commission will hand its recommendation to the tribunal.
However, it is not yet clear whether the tribunal will be able to hear and decide on the matter before Telkom's 15 December deadline.
The fixed-line operator's group executive for corporate communications, Lulu Letlape, previously said its original deadline might be compromised as a result of “lack of capacity within the Competition Commission and delays in information expected from third parties”.
“Telkom and Business Connexion will hold talks to discuss strategies for dealing with the current delay, including the possibility of extending the deadline,” she said previously.
Responding to the tribunal's decision yesterday, Letlape said: “Telkom sincerely hopes the Competition Commission and third parties are able to meet deadline dates, which will allow Telkom to forge ahead with its 2010 business plan.”
The commission's investigation has been hampered by the resignation of its lead investigator and the complicated nature of the deal, which involved it appointing two independent experts. It was also hampered by delays in submissions from interested parties.
Related stories:
Telkom, BCX oppose further delays
BCX, Telkom deal faces more delays
Telkom-BCX probe drags on
BCX deal ‘unlikely' before year-end
BCX takeover delayed
Objections to BCX deal expected this week
Court nod for BCX sale to Telkom
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