Telecom Namibia rejects Leo deal detractor
BUSINESS
By BiztechAfrica - Feb. 18, 2012, 1:30 p.m.
Telecom Namibia has defended itself against claims that its acquisition of Leo would be anti-competitive.
Last month, the vice-President of the Rally for Democracy and Progress party, Steve Bezuidenhoudt, said anti-competitive effects were likely to result from an acquisition of Leo Telecom by Telecom Namibia. He said the bid did not have the backing of Telecom Namibia’s shareholder.
In a statement release this week, Telecom Namibia said it was “surprised and disappointed” by the statement. The telco described it as ill-informed and said it suspected there were political motivations behind the statement.
Telecom Namibia said it wished to submit that its acquisition of Leo would preserve much-needed jobs, strengthen the economy and encourage innovation and competition in the telecoms space.
The planned acquisition has not yet been approved by Namibia's authorities.
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