Telkom SA open to mergers

17 Dec 2007

The chief executive of Telkom South Africa says his firm is open to mergers, acquisitions and joint ventures as it looks to expand its presence in both the fixed line and mobile sectors. Reuben September says a deal is likely within months, Dow Jones reports, since the telco is keen to push ahead with fixed-mobile convergence. Telkom recently ended negotiations with MTN, the South African cellco which was interested in acquiring Telkom’s wireline business, and at the same time halted talks with Vodafone which would have seen the UK-based firm increase its stake in South Africa’s largest mobile operator, Vodacom, which is currently a 50:50 joint venture between Telkom and Vodafone. Options open to Telkom include a tie-up with the other South African mobile provider, Cell C.

South Africa, Telkom South Africa, Vodacom Group