Rain's proposal to Telkom - buy us!

[Jan]

Rain proposes that Telkom should buy it

Telkom has confirmed it received an offer from Rain in mid-September proposing that Telkom acquire Rain in exchange for shares.

"Shareholders are advised that Telkom received a non-binding proposal from Rain on 14 September 2022, in terms of which Rain proposes the potential acquisition of Rain by Telkom for newly issued shares in Telkom," the company said in a SENS announcement on Friday.

 

[blowdart18]

Interesting to note,

1) Rain currently valued at R16 Billion,
2) Telkom Share capital R5 Billion
3) Government holds 40.5% of the share capital
4) PIC holds 15.48% of the share capital

Not sure how they want Telkom to create an additional equity of R16 Billion on the balance sheet when current share capital is only R5 Billion.

 

[TelkomUseless]

I would be unhappy if Telkom buys Rain. F Telkom