Telkom accepts Vodafone offer for Vodacom stake

12 Nov 2008

Vodafone Group has announced that its ZAR25 billion (USD2.5 billion) offer to acquire another 15% stake in South African cellular operator Vodacom from Telkom South Africa has been accepted. The deal will raise Vodafone’s stake in Vodacom from 50% to 65%. Telkom is looking to offload its remaining 35% interest in Vodacom to Telkom shareholders. Vodacom has wireless operations in South Africa, the Democratic Republic of Congo, Lesotho, Mozambique and Tanzania.

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