Telkom rejects Rain acquisition proposal

[Jan]

Telkom rejects Rain

Telkom has informed shareholders that it has terminated discussions relating to Rain’s proposal about a potential acquisition.

Rain made a formal proposal to Telkom on 30 September 2022, suggesting that Telkom buy it with newly issued shares.

 

[Pak Fa Fui]

So back to MTN or just business as usual trying to stay afloat

 

[G.A.S]

However, as a result of Telkom’s discussions with Rain... causing a 25% drop in Telkom’s share price.

Telkom surges 11% as it calls off merger talks with Rain (News24)

This basically tells me that the shareholders thought that the purchase price was too high?

 

[r00igev@@r]

Does that mean that the yacht needs to be returned?

 

[BCR]

Telkom rejects Rain

Telkom has informed shareholders that it has terminated discussions relating to Rain’s proposal about a potential acquisition.

Rain made a formal proposal to Telkom on 30 September 2022, suggesting that Telkom buy it with newly issued shares.

Good, and hopefully MTN will stay away from them - with proposals - for a few more years at least.

Want my Telkom (fixed) LTE to stay as it is without interference from outsiders - reasonably priced / decent amounts of GB's and relatively fast (downloads).

 

[Ipwn 4]

Big L for Rain.

 

[entrepr]

If Rain was engaging simply to delay the MTN/Telkom deal, then their strategy did buy them time