Incoming new models a sign of our commitment: Volvo MD
The brand has faced criticism in recent months for its reduction in dealerships, which has led to speculation of it possibly leaving South Africa at some stage.
This was revealed by Vodacom and Remgro in their respective SENS announcements on 15 August 2025.
“Shareholders are now advised that the CAC has ruled to set aside the order of the Tribunal to prohibit the merger,” Remgro said.
“The CAC further ruled that the merger should be approved subject to the conditions proposed by the merger parties.”
Johann Rupert-controlled Remgro said it was pleased with this outcome, which represents a significant milestone in the fulfillment of the conditions for the transaction.
The transaction is still subject to approval by the Independent Communications Authority of South Africa (ICASA).
Vodacom said in its SENS announcement that it had received conditional approval from ICASA in November 2022. Implementation of the transaction now awaits ICASA’s unconditional approval.
This brings the three-year-long saga one step closer to the end, with significant progress being made so far in 2025.
Remgro and Vodacom announced earlier this year that they had reached a settlement with the Competition Commission, allowing the anti-monopoly watchdog to withdraw its objections to the transaction.
The companies first announced the transaction in November 2021, revealing that Vodacom had made an offer to buy a stake in CIVH’s fibre assets.
Remgro holds a 57% stake in Community Ventures Investment Holdings (CIVH), of which Maziv is a subsidiary. Maziv was established primarily to facilitate the transaction.
After 20 months of negotiations with the Competition Commission over conditions to attach to the transaction to address anti-competitive concerns, the regulator rejected the deal.
The Competition Commission recommended in August 2023 that the transaction be prohibited. Vodacom and CIVH resolved to make their case before the Competition Tribunal, which blocked the deal in October 2024.
This prompted backlash from the Minister of Trade, Industry, and Competition, Parks Tau, who said several important public interest conditions were attached to the transaction that would no longer be realised.
Tau joined Vodacom and Remgro’s application to the Competition Appeal Court to challenge the Tribunal’s decision.
Vodacom and Maziv had committed to a significant rollout of broadband infrastructure in previously underserved areas and to providing free services to schools and police stations.
In their settlement with the Competition Commission, the merger parties agreed to concessions that would further limit Vodacom’s influence over Maziv and expand their capital expenditure commitments.
Vodacom and Remgro also negotiated revised transaction terms, under which the mobile operator will pay between R11 billion and R13.5 billion in cash for its 30% stake in Maziv.
Because of how the transaction is structured, this valued Maziv at R36 billion, with the combined entity that will emerge following the transaction valued at more than R47 billion.
Vodacom also has the option to acquire an additional 4.95% of Maziv. “The option exercise price will be based upon a fair market valuation conducted by independent banks following closing,” Vodacom said.
Issued on Daily Investor | https://dailyinvestor.com/telecommunications/98111/vodacom-maziv-r13-billion-deal-gets-the-greenlight/
