COMPANY COMMENT: Sidestepping HCI may tread on many toes
The case could also see HCI pitted against Economic Development Minister Ebrahim Patel
Let’s face it, few of us like the bother — and often expense — of having to adhere to rules and regulations.In 1999, when the new Competition Act was launched, you could hear the collective groan of the business community when it suddenly realised how much restriction and regulation it faced. But, after a few tough years, it learnt to deal with the new regulatory environment. Hosken Consolidated Investments’ (HCI’s) efforts to side-step the competition authorities could undo all of that learning. In what looks like a case of "opinion shopping", it has gone to the top of the decision tree to get the opinion it had hoped the Competition Commission and then the Competition Tribunal would provide, but didn’t. HCI believes the approval it received for taking control of Tsogo in 2014 means it is free to rearrange assets between Tsogo and Niveus, which it also controls, and that it does not need to go back to the competition authorities. Not so fast, says the commission. The approval grant...
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.