Internet Solutions' acquisition of Mweb to go ahead


The Competition Commission has recommended to the Competition Tribunal that the acquisition of MWEB by Internet Solutions – a subsidiary of Dimension Data – be allowed to proceed. The deal was first announced on 2 December 2016.

According to Saki Missaikos, MD of Internet Solutions, MWEB will run as a separate entity, should the acquisition be approved. He said:

"MWEB is one of South Africa's largest consumer ISPs and this acquisition will immediately give Internet Solutions a presence in the large and rapidly-growing consumer market."

The Commission found that the proposed transaction is unlikely to substantially prevent or lessen competition in any market. It has however said that in the event that the merging companies need to retrench staff, they must follow the applicable Labour Relations Act processes.

Related articles

CFOs unpack ESG, tech and teamwork in CFO Day Survey

In what has become a tradition, South Africa’s top finance leaders completed the CFO Survey at this year’s annual CFO Day on 5 July. The results are unpacked in this CFO Magazine special feature.

Are fintechs the answer to cross-border payment pains?

During a CFO South Africa webinar, Verto experts Tim Rudman and Ola Oyetayo, as well as Hatch Africa CFO Craig Sumption, unpacked the challenges and possible solutions when it comes to cross-border payments.