Anticartel case could upend competition regulatory regime
Competition Appeal Court case could result in merger parties sidestepping competition authorities
An extraordinary case that could upend the entire competition regulatory regime is due to be heard by the Competition Appeal Court on Monday. HCI is seeking a court order that its proposed plan to merge the gaming businesses of its subsidiaries Niveus and Tsogo Sun does not require the approval of competition authorities. If granted, the order would establish a precedent for other merger hopefuls to sidestep competition authorities by going directly to the Competition Appeal Court for a ruling. In a related move on Friday, Tsogo informed shareholders the transaction would be dropped if it had to notify the competition authorities. Friday’s Stock Exchange News Service statement is the first mention of the competition authorities in a transaction that was initially announced in December 2016. The statement said the fulfilment date of the transaction had been extended to October 30 from September 30 to facilitate the Competition Appeal Court appeal. If at any time before October 30, HC...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.