Allied Technologies Limited ('Altech') has withdrawn as an intervening party in the merger proceedings before the Competition Tribunal, in respect of MTN's proposed acquisition of Verizon South Africa, which is to be heard by the Competition Tribunal on 08 January 2009. MTN has given a number of general undertakings in respect of the way in which it proposes to conduct the Verizon business. These undertakings have given Altech satisfactory comfort to address its competition law concerns.
About Allied Technologies Limited (Altech)
Altech is listed on the Johannesburg Stock Exchange (JSE) and is an investment holding company, involved in the telecommunications, multi-media and information technology industries, which employs over 4200 employees in South Africa and abroad.
As a leading South African multi-billion rand high-technology group, Altech is involved in the design, development, convergence, manufacture, installation and distribution of telecommunications equipment, multi-media systems, IT solutions, electronic components, cellular telephony and industrial electronic products. There is a strong focus on the convergence of these technologies and Altech is now also entrenched in the arena of secure technology solutions.
Strong partnerships with international principals ensure that Altech has ongoing access to the latest technologies worldwide, while the group’s own research and development programmes actively encourages and promotes internal technology advances.
FOR MORE INFORMATION:
Craig Venter: Chief Executive Officer, Altech
TEL: (011) 715-9004
FAX: (011) 715-9045
CELL: 083 236 8000
EMAIL: cventer@altech.co.za
www.altech.co.za
Bradley Scop
Routledge Modise in association with Eversheds
TEL: (011) 286-6900
FAX: 086 646 7157
CELL: 082 778 2931
EMAIL: EsteFivaz@eversheds.co.za