Telkom rejects Oger offer

31 Mar 2008

Telkom South Africa has decided not to go ahead with a deal which would have seen it sell a stake to Dubai-based telecoms investment group Oger Telecom. South Africa’s largest telco says the deal was not in the interest of its shareholders: ‘The disposal of Telkom or any of its subsidiaries, joint ventures or any parts thereof will not be considered by Telkom without a compelling strategic rationale,’ it said in a statement. Oger Telecom made an offer in January to swap its 60% stake in South Africa’s third largest cellular operator, Cell C, in return for Telkom shares. Meanwhile, Telkom says it will be investing in a new fixed wireless and mobile data network.

South Africa, Telkom South Africa