Telkom fails with Business Connexion bid

3 Jul 2007

Telkom South Africa has had its bid for local IT outsourcing firm Business Connexion blocked by competition authorities. The ZAR2.43 billion (USD340 million) deal was aimed at bolstering Telkom’s data business in the face of falling revenues from its core voice telephony operations, but regulators and rival operators argued that the former monopoly would be reinforcing its dominant position.

South Africa, Telkom South Africa