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Polity
Published: 04 Nov 2003
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| Matsepe-Casaburri: Statement on SNO (04/11/2003) | |
| Date: 04/11/2003 Source: Ministry of Communications Title: Matsepe-Casaburri: Statement on SNO PRESS STATEMENT BY THE MINISTER OF COMMUNICATIONS, DR IVY MATSEPE-CASABURRI, ON THE SECOND NATIONAL OPERATOR (SNO) I indicated during my parliamentary media briefing in Cape Town that Independent Communications Authority of South Africa (ICASA) forwarded their recommendation on the 51% equity stake in the Second National Operator (SNO). In considering the recommendation, I raised several issues of clarification with ICASA, which included legal and procedural matters. In answering my queries, ICASA furnished me with supporting documents including a number of options that can facilitate the successful conclusion of the licensing of the SNO entity. After careful analysis of the recommendation and all the supporting documents, in applying my mind, I carefully considered all additional answers, documents, representations from interested parties, legal advice from Senior Counsel and options provided by ICASA. I have now decided to accept ICASA's recommendation on the basis of the options suggested by ICASA and decided that the matter should be taken forward as follows: * A licence be issued to an entity consisting of the integrated 30% of SOEs, the 19% Nexus Connection and the warehoused 51% stake * The 51% equity stake in the SNO will be warehoused until suitable shareholder(s) and/or investor(s) are found * Government will identify shareholders to take the 51% equity stake in the SNO and announce these to the public in not more than eight weeks * Valuation and integration of the assets of the State-Owned Entities (SOEs) in collaboration with the Minister of Public Enterprises. The currently existing applicants will not be excluded from consideration in the process of identifying shareholder(s) and/or investor(s) in the SNO. For further details contact: Mr Pakamile Pongwana at 012 427 8510 or 083 703 2009, Deputy Director-General: Department of Communications Issued by: Ministry of Communications 4 November 2003 |
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