Telkom has warned shareholders that it “is in discussions” which may have a material effect on its share price.<\/p>\n
The telco advised shareholders to exercise caution when dealing in its\u00a0 securities until a further announcement is made in this regard.<\/p>\n
While Telkom did not elaborate on its discussions, in September, the group’s CEO Sipho Maseko expressed some interest<\/a><\/strong> in buying South Africa’s third largest mobile operator, Cell C, calling it an \u201cinteresting proposition\u201d.<\/p>\n \u201cAt the right price, I\u2019m a buyer,\u201d Maseko said.<\/p>\n Last month Business Day<\/a> reported that six groups have displayed interest in acquiring Cell C.<\/p>\n The business publication cited a direct quote from Cell C parent company, Oger Telecom\u2019s chief legal officer and deputy CEO, Mazen Abou Chakra.<\/p>\n \u201cSix groups approached us with interest in acquiring our stake in Cell C,\u201d Chakra said, adding that no decision has been taken on the matter.<\/p>\n Oger Telecom noted in March 2015 that is looking to sell its 75% stake in the local operator, following revised termination rates implemented by Icasa.<\/p>\n Though the Oger executive did not mention any names or details about the six groups vying for the share, Telkom has been open about having its eye on Cell C.<\/p>\n Cell C chief executive Jose dos Santos said last week, that Cell C has engaged with its competitors over a potential acquisition. Nothing material has come of the discussions, however, Dos Santos said.<\/p>\n \u201cPeople talk all the time,\u201d he said.<\/p>\n He added that the discussions have not only been with local players, but international players too.<\/p>\nMore on Telkom<\/h3>\n