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On 18 July 2012 the Competition Tribunal (Tribunal) issued
reasons for the conditional approval of the merger between Tedelex
Trading (Proprietary) Limited (Tedelex) and Sammeg Satellite
(Proprietary) Limited, Sammeg Cape (Proprietary) Limited and Sammeg
KZN (Proprietary) Limited (collectively Sammeg). The conditions are
aimed at preventing the retrenchment of employees.
On 2 April 2012 the Tribunal approved the intermediate merger
between Tedelex and Sammeg, subject to the revised conditions
prescribed by the Competition Commission (Commission).
Tedelex is a wholly-owned subsidiary of listed company
Amalgamated Appliance Holdings Limited and is involved in the
marketing and supply of household appliances and electrical
accessories. Sammeg supplies electrical accessories and television
reception equipment.
The Commission found that as all the parties involved supply
electrical accessories, there is a horizontal overlap between the
parties. The Commission however concluded that the market is broad
with various competitors involved.
A public interest concern was raised in the form of possible job
losses as a result of the merger. The Commission therefore imposed
the condition that no employees of the merging parties should be
retrenched for a period of two years; but revised the condition to
state that no merger-specific retrenchments should occur.
The Tribunal concluded that the transaction does not raise any
further public interest concerns and that the transaction is
unlikely to substantially prevent or lessen competition.
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