Telkom and Rain have walked away from a transaction that could have seen the JSE-listed operator buying the wireless broadband upstart.
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Semiconductor giant Nvidia will launch its GeForce Now cloud gaming platform in South Africa in 2023 in a deal with Rain.
Following the collapse of discussions between MTN and Telkom, Rain said it remains engaged with Telkom about a possible deal.
Shares in Telkom plummeted more than 10% on Friday after a report suggested talks with rival MTN Group about a takeover had stalled.
Vodacom said on Wednesday that it has broken the 2Gbit/s barrier on its 5G network, achieving a transfer speed of 2.4Gbit/s.
Shares in Telkom rallied on Tuesday after the company informed investors that it is still in talks with MTN Group about a transaction.
It appears Telkom’s apparent willingness to engage with Rain about a possible deal could scupper its merger talks with MTN Group.
Rain has formally made a non-binding proposal to Telkom that would see the latter acquire the former through the issue of new Telkom shares.
African Rainbow Capital Investments has attached a valuation to wireless Internet operator Rain of R17.9-billion, a 7.9% increase over last year’s figure.
In separate but identical regulatory filings on Monday, MTN Group and Telkom said they remained locked in discussions about a potential combination.