by AKANI CHAUKE
JOHANNESBURG – DISCUSSIONS in relation to MTN acquiring Telkom are ongoing.
The two South African mobile network operators confirmed the discussions to shareholders through a Stock Exchange News Service (SENS) on Monday.
Shareholders have been advised that discussions are “still in progress” and if successfully concluded, may have a material effect on the price of the company’s securities.
“Accordingly, shareholders are advised to continue to exercise caution when dealing in the Company’s securities until a further announcement is made,” MTN and Telkom stated separately.
The update is further to the cautionary announcement dated July 15 when the Johannesburg Stock Exchange-listed companies disclosed a possible acquisition of Telkom by MTN.
This could culminate in the biggest mobile network operator in terms of subscriber base. MTN has over 34,5 million subscribers in South Africa, bigger than Telkom’s 16,4 million.
– CAJ News