The Competition Tribunal (“Tribunal”) has approved the proposed merger whereby 2024/095842/07 (South Africa) (Pty) Ltd (“NewCo”) intends to acquire Main Street 1800 (Pty) Ltd (“Main Street 1800”), which indirectly holds the entire issued share capital of Octotel (Pty) Ltd (“Octotel”).
 
The Tribunal has approved the proposed transaction subject to employment related conditions that seek to protect jobs. Following the implementation of the proposed merger, NewCo will acquire control over Octotel.
 
NewCo is an entity that has been established for purposes of the proposed transaction. It therefore does not currently provide any products or services. It is controlled by a domestic infrastructure equity fund which invests in a diversified portfolio of infrastructure and related assets in key sectors that unlock economic growth and developmental impact in the Southern African Development Community ("SADC") region.
 
Established in 2020, Main Street 1800 is a holding company which holds Octotel through its wholly owned subsidiary, Main Street 1788. Octotel operates an open-access fibre network in the greater Cape Town metropolitan area and other areas in the Western Cape Province.