For the first time in
In
Following a merger review application filed before the Tribunal by A&K on behalf of the parties,
The Tribunal ruled that the Authority's conditions relating to spectrum and licenses did not address any competition law concerns and were an unreasonable and unjustified curtailment of the merged entity's right to property. The Tribunal also held that instead of a blanket ban against entering into any form of sale agreement, the merged entity could dispose up to 40 percent of its shareholding at any time during a five year period. Further, the ruling upheld that the merged entity was not to be restricted from disposing of its assets and shares in the ordinary course of business.
This is an important decision in many respects and marks the first merger review application ever filed before the Tribunal against a decision of the Authority since its establishment, and the decision has already attracted significant attention. Click here to read more about the landmark ruling from recent press coverage.
A&K is honoured to have acted for the applicants in this matter.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Ms Anne Kiunuhe
Anjarwalla & Khanna
3rd Floor, The Oval,
Parklands & Jalaram Road Westlands
Tel: 203640000
E-mail: dng@africalegalnetwork.com
URL: www.africalegalnetwork.com/kenya/
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