Page 113 - SAMENA Trends - January-February 2023

REGULATORY & POLICY UPDATES SAMENA TRENDS

NZ Regulator Seeks Input on 2degrees Tower Deal

New Zealand’s Commerce Commission infrastructure by Spark’s independent investigation will assess the potential
raised preliminary concerns about a tower unit Connexa and opened a public effects of any deal, in particular whether
proposed acquisition of 2degrees’ passive consultation on the transaction. Its a loss of competition would enable the
merged entity to profitability raise prices, or
reduce quality or innovation. The Commerce
Commission stated the probe will also
cover if the deal would allow or incentivize
the new business or Spark to deprive
rivals of access, along with if the move
might result in “any horizontal unilateral,
vertical or coordinated effects”. Interested
parties have until 13 February to submit
comments as part of the consultation. The
Commission is scheduled to decide on the
sale by 7 March, but stated this may be
extended as the investigation progresses.
The regulator previously stated it will clear
the proposed deal provided it judges it
“unlikely to have the effect of substantially
lessening competition”. Connexa agreed
the deal to acquire more than 1,100 towers
from 2degrees for NZD1.1 billion ($714.1
million) last month.

Marcelo Claure Teams Up with Apollo for USD10Bn Millicom Takeover Bid

Apollo Global Management and former the NASDAQ stock exchange in the US Investissement (7.00%), Societe Generale
Sprint/SoftBank Group Corp. executive and on NASDAQ Stockholm in the form of (6.34%) and Dodge & Cox (5.15%). Atlas
Marcelo Claure are in talks to acquire Swedish Depository Receipts (SDRs). The is a holding company owned by French
Millicom International Cellular (MIC), the only stakeholders that currently own more billionaire Xavier Niel, which acquired its
Latin American-focused telecoms group than 5% of the group’s shares are Atlas stake in November 2022.
has confirmed. The potential deal could
value the Luxembourg-based company
at almost USD10 billion, including debt,
Bloomberg reports, citing a person familiar
with the matter. The source added that
Apollo and Claure are trying to structure an
offer to avoid repaying or refinancing about
USD6.9 billion in Millicom debt because
of the rockiness of financial markets.
Millicom issued a statement confirming:
‘As a response to market speculation, the
Board of Directors of Millicom International
Cellular confirms that a potential
acquisition of all outstanding shares in
Millicom is being discussed with Apollo
Global Management and Claure Group.
There is no certainty that a transaction
will materialize nor as to the terms, timing
or form of any potential transaction.’
Millicom’s common shares are listed on

113 JANUARY-FEBRUARY 2023