Former Tanzanian ambassador to South Africa and businessman Ami Mpungwe has submitted a merger notification to acquire the majority shares of MultiChoice Tanzania.
Dar es Salaam. Former Tanzanian ambassador to South Africa Ami Mpungwe intends to acquire the majority shareholding in MultiChoice Tanzania Limited, the first Tanzania pay TV company.
Currently, MultiChoice Tanzania is a joint-venture between Mr Mpungwe (chairman), Fabio and Marco Tramontano (represented by Franco Tramontano) and MultiChoice Africa. However, it has not been established the current shareholding status of the company.
The Fair Competition Commission (FCC) announced on Monday that it received a notification to the effect that Mr Mpungwe intended to acquire majority shares in MultiChoice Tanzania Limited.
The target firm provides subscriber management services solely to MultiChoice Africa Limited. The services include managing subscriber relationship, attending to customer queries, selling subscriber equipment such as decoders and marketing and promotion of DStv bouquets. The target firm is licensed to provide such services by the Tanzania Communications Regulatory Authority.
“FCC is currently investigating the intended acquisitions in line with the provisions of the Fair Competition Act, 2003, No. 8 of 2003, and the Fair Competition Commission Procedure Rules, 2013,” said an announcement posted on the commission’s website.
“Pursuant to Rule 49 of the said Rules, parties (both legal and natural) who deem themselves as having sufficient interest in this merger, or, if the merger is not objected to, it will have or is likely to have material effect on their interests,” says FCC.
FCC has notified those with interest in the merger to register their interests and or objections (if any) or file any information that will assist the commission in reaching a just and reasonable decision with regard to merger.
By controlling more than half the voting interest, the majority shareholder is a key stakeholder and influencer in the business operations and strategic direction.
of the company. Their powers may include replacing a corporation’s officers or board of directors. A majority shareholder is more common in private companies than public companies, and not all companies have a majority shareholder.