COMESA approves Telkom, BCX $216M deal

South Africa‘s fixed line operator Telkom‘s proposed purchase of Business Connexion (BCX) has been approved by the Common Market for Eastern and Southern Africa, which said the ZAR 2.67 billion buyout could proceed.

Telkom and BCX said in a joint statement that the last remaining conditions required before the deal can go ahead include approval from the South African competition authorities, approval as may be needed from the Independent Communication Authority of South Africa (ICASA) and the issue of a compliance certificate by the Takeover Regulation Panel.

Read more: COMESA approves Telkom, BCX deal – Telecompaper.