Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      Eskom wants your solar system registered – but what does that actually mean?

      15 July 2025

      Beyond bandwidth: FNOs should prioritise customer service

      15 July 2025

      South Africa’s telcos battle to monetise 5G as 4G suffices for most

      15 July 2025

      Meta to build Manhattan-scale, multi-gigawatt data centres

      15 July 2025

      Trump tariffs could wreck South Africa’s vehicle manufacturing industry

      14 July 2025
    • World

      Grok 4 arrives with bold claims and fresh controversy

      10 July 2025

      Samsung’s bet on folding phones faces major test

      10 July 2025

      Bitcoin pushes higher into record territory

      10 July 2025

      OpenAI to launch web browser in direct challenge to Google Chrome

      10 July 2025

      Cupertino vs Brussels: Apple challenges Big Tech crackdown

      7 July 2025
    • In-depth

      The 1940s visionary who imagined the Information Age

      14 July 2025

      MultiChoice is working on a wholesale overhaul of DStv

      10 July 2025

      Siemens is battling Big Tech for AI supremacy in factories

      24 June 2025

      The algorithm will sing now: why musicians should be worried about AI

      20 June 2025

      Meta bets $72-billion on AI – and investors love it

      17 June 2025
    • TCS

      TCS+ | MVNX on the opportunities in South Africa’s booming MVNO market

      11 July 2025

      TCS | Connecting Saffas – Renier Lombard on The Lekker Network

      7 July 2025

      TechCentral Nexus S0E4: Takealot’s big Post Office jobs plan

      4 July 2025

      TCS | Tech, townships and tenacity: Spar’s plan to win with Spar2U

      3 July 2025

      TCS+ | First Distribution on the latest and greatest cloud technologies

      27 June 2025
    • Opinion

      A smarter approach to digital transformation in ICT distribution

      15 July 2025

      In defence of equity alternatives for BEE

      30 June 2025

      E-commerce in ICT distribution: enabler or disruptor?

      30 June 2025

      South Africa pioneered drone laws a decade ago – now it must catch up

      17 June 2025

      AI and the future of ICT distribution

      16 June 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CambriLearn
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » News » Telkom walks away after Cell C rejects offer

    Telkom walks away after Cell C rejects offer

    By Duncan McLeod29 November 2019
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp

    Telkom has withdrawn a cautionary notice to shareholders about its proposed acquisition of Cell C after the board of the mobile operator spurned its approaches.

    Telkom said two weeks ago that it was interested in buying the financially distressed Cell C.

    “Telkom has received written notice from the Cell C board of directors rejecting its non-binding proposal,” the company said on Friday.

    Telkom has received written notice from the Cell C board of directors rejecting its non-binding proposal

    “The Telkom board continues to believe the offer is a compelling proposition that would have created significant value for all stakeholders including Telkom’s shareholders,” it said.

    “As the offer has been rejected by Cell C’s board of directors, Telkom shareholders are advised that they are no longer required to exercise caution when dealing in Telkom securities.”

    Recap plan

    The rejection of the Telkom offer paves the way for Cell C to conclude a planned recapitalisation with the Buffet Consortium and other, unnamed investors. Cell C management has said the company hopes to conclude the recap before the end of the year.

    Earlier this month, Cell C concluded an expanded roaming agreement with rival MTN South Africa, which will result in the former spending significantly less on its network. That agreement, which is being probed by communications regulator Icasa, was seen as the last big stumbling block to the signing of the recapitalisation agreement.  — (c) 2019 NewsCentral Media



    Buffet Consortium Cell C MTN MTN South Africa Telkom top
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleTelkom shares jump as Cell C deal off the table
    Next Article Hollard joins forces with SilverBridge for core insurance system Exergy

    Related Posts

    South Africa’s telcos battle to monetise 5G as 4G suffices for most

    15 July 2025

    Blue Label Telecoms to change its name as restructuring gathers pace

    11 July 2025

    Spam call epidemic: operators say their hands are tied

    10 July 2025
    Company News

    Mental wellness at scale: how Mac fuels October Health’s mission

    15 July 2025

    Banking on LEO: Q-KON transforms financial services connectivity

    14 July 2025

    The future of business calling: Voys brings your landline to the cloud

    14 July 2025
    Opinion

    A smarter approach to digital transformation in ICT distribution

    15 July 2025

    In defence of equity alternatives for BEE

    30 June 2025

    E-commerce in ICT distribution: enabler or disruptor?

    30 June 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.