The Competition Commission has approved cellular service provider GloCell's acquisition of Altech Autopage's Cell C subscriber base, for an undisclosed sum.
"GloCell is in the process of taking over and rebranding many of Autopage's outlets nationally, upgrading these to become 'experience' stores and rebranding them GloCell," according to Alessandro Mariola, founder and MD of GloCell.
This as the Competition Tribunal approved the disposal of Altech Autopage's subscriber bases to telecoms operators Cell C, MTN and Vodacom for a combined R1.5 billion, with conditions.
"We are naturally pleased that the Competition's Commission has ruled in favour of the transaction and we look forward to delivering new ground-breaking personalised service to our subscribers and their families," says Mariola.
GloCell was established in 2001 and is now a R5 billion a year independent cellular telecommunications group, with Investec as a major shareholder.
The company specialises in the provision of Cell C contracts, as well as "the distribution of all network prepaid and virtual products to banks, petroleum companies, major retailers, wholesalers and emerging markets".
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