Net1 Receives Unconditional Approval from the Competition Tribunal to Acquire Controlling Stake in DNI
Net 1 UEPS Technologies, Inc. (UEPS)
Last net 1 ueps technologies, inc. earnings: 2/6 04:05 pm
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Source: GlobeNewswire
JOHANNESBURG, South Africa, June 21, 2018 (GLOBE NEWSWIRE) -- Net 1 UEPS Technologies, Inc. (“Net1” or the “Company”) (Nasdaq:UEPS) (JSE:NT1) today announced that it has received unconditional approval from the Competition Tribunal to increase its stake in DNI-4PL Contracts (Pty) Ltd (“DNI”) from 49% to 55%. DNI is the leading distributor of mobile subscriber starter packs for Cell C through its extensive network of field operatives and agents. The transaction is now unconditional and Net1 expects the transaction to close on or before June 29, 2018. “We welcome this positive news as it moves us one step closer to the inclusion of DNI into the Net1 family,” said Herman Kotze, CEO of Net1. “As part of Net1, DNI and its extensive sales force will allow us to accelerate our efforts to provide a range of low-cost lifestyle products along with our EasyPay Everywhere account, enabling financial inclusion to millions of underbanked South Africans with a low-cost, easily accessible solution
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