Tiso-Nail merger conditionally approved

The Competition Tribunal has approved the proposed merger between the Tiso Consortium and New Africa Investments Limited (Nail) - on condition that concerns about an overlap of radio and outdoor advertising markets are addressed, and that the Mineworkers Investment Company (MIC), part of the Tiso Consortium and a significant shareholder in Primedia, does not exercise any vote or appoint any representative to the board of Nail and any entity that Nail controls.