Telkom preparing Vodacom sale?

3 Sep 2007

Telkom South Africa has reportedly put its stake in pan-African cellular operator Vodacom up for sale. The Sunday Times claims that Telkom is close to selling its 50% interest in Vodacom to its partner in the venture, Vodafone of the UK, which has pre-emptive rights on the stake. However, rival African cellular group MTN has also expressed an interest in acquiring the Telkom assets. The paper said the half-share of Vodacom would be valued at around ZAR70 billion (USD9.7 billion).

South Africa, Telkom South Africa, Vodacom Group, Vodafone Group