Telkom accepts Vodafone offer for Vodacom stake

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.