adminpercent held Vodacom Congo SPRL unit in order to enforce its January 25 judgment that Vodacom pay Moto Mabanga’s Namemco Energy US$21 million, according to court documents provided by Mr Mabanga.
The court’s head clerk, Jose Roger Mbonga Kinkela, confirmed the veracity of the document and the announcement of a public auction when approached yesterday at the Gombe commune of Kinshasa. The shares were seized by the court from Vodacom on March 26.
“We believe the contemplated seizure and sale of shares in Vodacom Congo is legally flawed and would taint any participating third parties,” Richard Boorman, a Vodacom spokesman, said in response to questions yesterday. “We have accordingly instituted legal action against this process.” Mr Boorman did not immediately respond to further questions.
The commercial court said in the announcement that “in the case of failure of payment of the amount due to the plaintiff”, it would proceed with a sale of the seized shares at the headquarters of the court on June 3.
Johannesburg-based Vodacom, a unit of UK-based Vodafone Group, was sued last year by Mr Mabanga, who was seeking a US$40,8 million success fee for work done during 2007 and 2008.
The commercial court ruled on a reduced award in January.
Mr Mabanga was already paid a US$2,8 million service fee for the consulting work, which Vodacom maintains was a full and final settlement of its obligations.
The 510 000 shares represent Vodacom’s entire holding in the Kinshasa-based unit that increased its customers 33 percent to 5,1 million in the quarter to end
December, Vodacom said on February 8.
“Before the court announcement I have been receiving telephone calls from people who wanted to know if the shares were available,” Mr Mabanga said in a phone interview from Kinshasa.
“The sale is not a Mabanga process, it’s a court process. I just want to be paid my money,” he said. — Bloomberg.
Online Reporter