Leo takeover reports premature
BUSINESS| Jan. 13, 2012, 2:04 p.m.
Namibian authorities say no approval has been given yet for a buyout of Leo by Telecom Namibia.
Reports this week said Telecom Namibia had taken over management of mobile operator Leo, owned by Powercom. Telecom Namibia said the reports were unfounded.
The Communications Regulatory Authority of Namibia (Cran) and the Namibian Competition Commission (NaCC) say the NaCC has received an application but Cran has yet to receive an application from Telecom Namibia for the acquisition of Powercom.
Both authorities must approve the acquisition.
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