Telkom has issued a cautionary announcement as it performs a due diligence on Cell C.<\/p>\n
The group confirmed that it is in discussions with Cell C to acquire all shares in the telco group.<\/p>\n
The announcement confirms initial reports from Bloomberg, which stated\u00a0that Cell C’s major shareholder, Oger Telecom, rejected a R14 billion offer from Telkom in October.<\/p>\n
The Dubai based firm is believed to be seeking R22 billion for Cell C, and has set a late November deadline for a new offer, according to Bloomberg’s sources.<\/p>\n
The discussions between the groups remained long unconfirmed, leading to speculation in the market. Telkom warned shareholders not to react to speculative reports.<\/p>\n
“Shareholders should also specifically exercise caution when reacting to information on this matter which has not been released by Telkom,” it said.<\/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>\n