Shares in Telkom plummeted more than 10% on Friday after a report suggested talks with rival MTN Group about a takeover had stalled.
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MTN Group’s talks to buy Telkom have stalled following a rival deal proposal from Rain, people familiar with the matter said.
BCX CEO Jonas Bogoshi joins Duncan McLeod in the TC|Daily studio for a wide-ranging discussion on the changes sweeping the IT services industry.
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.
Vodacom and MTN have said the severe load shedding that Eskom has subjected South Africa to since last week is having a big impact on their networks.
South Africa’s biggest telecommunications operators have called for more consultation over government’s plan to terminate 2G and 3G services by 2025.
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.