However, Telkom added that the letter makes it clear that the offer will only be made if a number of pre-conditions are met, including confirmation by the Telkom Board that it will unbundle Telkom’s entire 50% stake in Vodacom as part of the offer. <\/p>\n
It further said that that it had received a non-binding proposal from a wholly owned subsidiary of Vodafone Group plc to acquire a portion of Telkom’s stake in cellphone operator Vodacom subject to the company unbundling its remaining stake in Vodacom to Telkom shareholders.<\/p>\n
Telkom said the discussions with Vodafone commenced on Wednesday, May 14 2008 and are independent from the approach from the consortium.<\/p>\n
"The Board of Telkom, in accordance with its fiduciary duties, will evaluate all bona fide offers with a view to maximising shareholder value.<\/p>\n
"No transaction will be entered into without requisite shareholder approvals," concluded Telkom.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Telkom confirmed that it had been approached by a consortium comprising Mvelaphanda Holdings, Och-Ziff Capital Management and "other strategic funders" which intends to make an offer for its entire issued share capital.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-3981","post","type-post","status-publish","format-standard","hentry","category-telecoms"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/3981"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=3981"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/3981\/revisions"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=3981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=3981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=3981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}