Vodafone plays down Telkom talks

3 Jul 2006

Vodafone has denied press reports that it is considering a takeover of South Africa’s dominant telecoms operator Telkom. The firm’s CEO, Arun Sarin, has confirmed in an interview with local newspaper the Sunday Times that he met with Telkom counterpart Papi Molotsane, but he said the talks centred on their joint venture Vodacom, which operates cellular networks in Safaricom and other African countries. Wireline operator Telkom has been valued at around USD10.2 billion.

South Africa, Telkom South Africa, Vodafone Group