The transaction has been mired in controversy, with the identity of the preferred partners the subject of much speculation in the media.
The Amandla Amoya consortium, widely believed to have led the short list of potential partners, came apart at the seams as members tried to exit the grouping and bid individually. This, insiders say, was because consortium leader Bulelani Ngcuka lost favour with the ANC. Vodacom repeatedly denied these allegations of political pressure.
Vodacom Group CEO Alan Knott-Craig revealed Royal Bafokeng and Thebe had been selected following a "comprehensive partner selection process".
Knott-Craig additionally revealed how the BEE stake is to be divided. "The BEE transaction will comprise three participant groupings: all Vodacom South African staff will receive 25% of the stake; broad-based black South African public and Vodacom black business partners, 30%; and broad-based strategic partners, 45%," he said.
An announcement regarding the terms of the BEE transaction and the offer to the black public and business partners is expected at the end of June, with the black public offer opening shortly thereafter.
|
Post a comment
|
Login.
Business Best Practise
