Telkom shares drop 25% as MTN walks away
MTN has walked away from talks to buy Telkom – a deal that would have created South Africa’s largest mobile-phone operator.
MTN has walked away from talks to buy Telkom – a deal that would have created South Africa’s largest mobile-phone operator.
MTN’s talks to buy Telkom have stalled following a rival proposal from another telecom company, according to people familiar with the matter.Â
MTN refuses to say whether it has reported millions in fraudulent transactions and airtime theft on its network.
Following engagement with the Takeover Regulation Panel, at the TRP’s instruction, rain hereby withdraws its press release of 11 August 2022.
Paul Harris’s six year old data-only company rain has formally proposed a merger with Telkom, SA’s formerly state-owned telecoms monopoly.
This is not the first time MTN and Telkom have been in talks. Negotiations began in 2014 with MTN offering to buy Telkom’s radio access network.
Telkom’s consumer business continues to be the driver of growth, where the Mobile business sustained its growth trajectory.
Six companies submitted applications in response to the invitation to apply for access to SA’s International Mobile Telecommunications spectrum.
Telkom announced a network freeze over the festive season, confident that it will meet demand over the holiday without expanding its network.
Telkom is suing Icasa over questionable conditions of its planned spectrum auction, saying it could damage telecoms for 20 years.