[ITweb] Vodacom's opening volumes on the JSE this morning mark the first steps of the last phase of its unbundling.
CEO Pieter Uys blew the kudu horn this morning, despite a last-ditch attempt by the Independent Communications Authority of SA (ICASA) and trade union Cosatu to sink what has been termed the largest listing on the JSE in years.
ICASA and the union launched an urgent application to the North Gauteng High Court at the weekend to interdict today's listing, following ICASA's last-minute decision to reverse its approval of a Vodafone takeover.
ICASA's decision plunged the rand by as much as 3% on Friday, and analysts have said the opposition to the transaction could lose SA its reputation of being a “foreign investment-friendly” country.
Relief as Vodacom listing prevails
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