Telkom claims negotiations with MTN ongoing; Rain takeover deal also under consideration

5 Oct 2022

South African telecoms operator Telkom has informed investors that it remains in takeover talks with MTN Group. Telkom renewed its cautionary announcement about the negotiations, which could see MTN buying Telkom in a cash and share-based deal.

TeleGeography notes that last week MTN disclosed it could abandon the acquisition, after Telkom’s announcement that it was considering a takeover proposal from Rain. The data network provider reportedly submitted a non-binding proposal to be acquired by Telkom in mid-September, in exchange for new shares in the capital of the operator.

South Africa, MTN Group, Rain (Multisource/WBS), Telkom South Africa