South Africa’s Competition Tribunal approved Capitec Bank Holdings Ltd.’s acquisition of Portuguese-owned Mercantile Bank Holdings Ltd. without conditions.
The acquisition paves the way for Capitec to enter the business banking market, the Pretoria-based antitrust regulator said in emailed statement. Capitec was selected by the Portuguese government as the successful bidder after about 60 expressions of interest from foreign and local bidders were initially received.
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