{"id":607046,"date":"2022-07-15T09:45:25","date_gmt":"2022-07-15T07:45:25","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=607046"},"modified":"2022-07-15T10:23:38","modified_gmt":"2022-07-15T08:23:38","slug":"mtn-makes-offer-to-buy-telkom","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/607046\/mtn-makes-offer-to-buy-telkom\/","title":{"rendered":"MTN makes offer to buy Telkom"},"content":{"rendered":"

MTN has advised its shareholders that it has entered into discussions to acquire the entire issued share capital of Telkom in return for shares or a combination of cash and shares.<\/p>\n

In a statement on Friday (15 July), MTN said discussions are at an early stage and there is no certainty that the transaction will be consummated.<\/p>\n

“The transaction, if concluded, may have a material effect on the price of the company\u2019s securities. Accordingly, shareholders are advised to exercise caution when dealing in the Company\u2019s securities until a further announcement is made,” MTN said.<\/p>\n

Telkom confirmed the discussions in a separate statement issued to shareholders.<\/p>\n

The deal is likely to face intense scrutiny from the Competition Commission and other regulators given the size of the two companies and their dominance in the sector.<\/p>\n

MTN currently has 34.5 million subscribers, making it the second largest mobile operator behind Vodacom. Telkom has 16.9 million mobile subscribers.<\/p>\n

Telkom’s share price was up in excess of 25% in mid-morning trade on the JSE, while MTN climbed a percent to R136.26.<\/span><\/p>\n

\"\"<\/a><\/p>\n

\n

Read: Mteto Nyati appointed to Telkom\u2019s board<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

MTN has advised shareholders that it has entered into discussions to acquire the entire issued share capital of Telkom in return for shares or a combination of cash and shares.<\/p>\n","protected":false},"author":10,"featured_media":512786,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[26,28,65],"class_list":["post-607046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-headline","tag-mtn","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/607046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=607046"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/607046\/revisions"}],"predecessor-version":[{"id":607082,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/607046\/revisions\/607082"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/512786"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=607046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=607046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=607046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}