Oger, MTN duel for Telkom

[Syndyre]

This could get interesting:

Cellular operators Oger and MTN are to go head-to-head in a bid for South African fixed-line operator Telkom.

Yesterday, Telkom confirmed it had received a non-binding expression of interest from Oger Telecom. The company has interests in telecommunications operations in Turkey, the Middle East and in SA's third cellular operator, Cell C.

Additionally, ITWeb has established MTN is rekindling discussions with the fixed-line giant.

A source close to the companies reveals: “MTN wants to have another go at buying out Telkom. The investment bankers are already engaging in preliminary discussions. Yesterday's announcement regarding Oger will force MTN to up the urgency of these discussions.”

It seems the ANC still doesn't want to relinquish its hold though:

Indications from inside the party are that the ANC will continue to support MTN's acquisitive efforts. An MTN-Telkom merger would provide government with an infrastructure investment into the rest of Africa.

“It is a company we know well and is chaired by political figure Cyril Ramaphosa,” a source within the party says.

Oger's bid, on the other hand, may not receive the nod from the party as it “takes a chunk of the company outside the country”. The ANC is believed to be favouring companies whose growth initiatives benefit SA's development agenda.

 

[Alchemist]

Yip, the ANC have to have their grubby little fingers in somewhere... BEE hard at work