Search Results: Telkom (3036)

Telkom said it has not it had received a proposal from Rain and remains in talks with rival MTN about a possible transaction.

Ignore for a moment that Rain, although growing fast, is a relative pipsqueak next to Telkom. Does a merger make any sense? By Duncan McLeod.

Rain plans to table a proposal to Telkom’s board that it should merge with the wireless broadband provider instead of pursuing a deal with MTN.

The Takeover Regulation Panel has accused Rain of flouting companies regulations in announcing its plan to approach Telkom’s board about a merger.

Telkom will complete the legal separation of its wholesale division Openserve on 1 September, with the unit becoming a wholly owned subsidiary.

Telkom’s fibre network is now available to more than 890 000 homes in South Africa as the company rapidly moves on from legacy copper.

Telkom has gone to court to have President Cyril Ramaphosa’s decision to order a probe into alleged malfeasance at the company declared unconstitutional and invalid.

Telkom paid its former group CEO, Sipho Maseko, R20-million in retention bonuses in the past two years plus a R32-million restraint to prevent him being poached by competitors.

The idea of a pan-African telecoms champion that has a large shareholding by the South African government looks likely to grease the political wheels of MTN’s audacious bid to buy Telkom.

MTN Group has entered into discussions to acquire Telkom. The talks are at an early stage, the parties said, and might not result in a deal.