Cell C’s major shareholder, Oger Telecom has rejected a R14 billion offer from Telkom SA, for its 75% stake in South Africa’s third largest mobile operator, according to reports.<\/p>\n
Bloomberg reported <\/a>that Telkom is conducting due diligence on whether to make a renewed offer for Oger\u2019s share, citing a person familiar with the matter.<\/p>\n The Dubai based firm is believed to be seeking R22 billion for Cell C, and according to Bloomberg, has set a late November deadline for a new offer, according to the person.<\/p>\n On 28 September, Bloomberg reported that<\/strong><\/a> Telkom was looking\u00a0to buy Cell C for less than the R22 billion value placed on the mobile operator by its owners.<\/p>\n Bloomberg stated Telkom was only prepared to pay R18 billion for the business, citing a person familiar with the matter.<\/p>\n At the end of September,\u00a0Business Day reported<\/a>\u00a0<\/strong>a \u201cpotential takeover of Cell C by Telkom was stalling over price\u201d.<\/p>\n Oger declined to comment on the matter, while Telkom spokesperson Jacqui O\u2019Sullivan told Bloomberg that the company would divulge \u201cany relevant information\u201d when required to do so.<\/p>\n Telkom sweetens its bid for Cell C: sources<\/a><\/strong><\/p>\n Cell C valued at R22 billion<\/a><\/strong><\/p>\n Telkom \u2018discussions\u2019 fuel Cell C acquisition rumour<\/a><\/strong><\/p>\nMore on Cell C and Telkom<\/h3>\n