Telkom still in talks

South African fixed line operator Telkom said on Tuesday that talks with an Mvelaphanda-led consortium regarding a bid for its entire shareholding were still ongoing.

Telkom said last month that it received a letter from a consortium interested in making an offer for all of Telkom, conditional on it spinning off its entire stake in Vodacom.

The consortium is made up of politician-turned-businessman Tokyo Sexwale’s Mvelaphanda Holdings, New York-listed Och-Ziff Capital Management LLC and other strategic backers.

Independently, talks regarding the sale of a portion of Telkom’s stake in Vodacom to UK-based Vodafone Group, subject to Telkom unbundling its remaining stake in Vodacom to Telkom shareholders, were also still on, Telkom said.

Telkom talks discussion

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