This is according to Jannie Durand, CEO of Remgro , which owns 57% of Maziv parent CIVH. Remgro's effective stake in Maziv will be diluted through Vodacom's acquisition - should the deal get the regulatory nod from the Competition Tribunal. Last year, the Competition Commission recommended to the tribunal that the deal be prohibited on competition grounds.
"Looking at the numbers, if we could have concluded this deal a year and a half earlier, we probably could have already spent R3-billion to R4-billion in capex in rolling out fibre to various areas. It's been a significant opportunity cost not just for CIVH but also for the country," Durand said in an investor call on Thursday in response to a question from TechCentral.
According to Durand, uncertainty caused by the regulatory delays have led to decreased spending on fibre roll-out by CIVH subsidiary Vumatel to the tune of some R1-billion.
According to CIVH chairman and Remgro executive Pieter Uys, low-income communities - where internet penetration rates are lowest - have the most to lose should the Competition Tribunal agree with the commission that the Vodacom-Maziv deal be blocked.
Commitments Vodacom and Maziv have agreed to include:
