Deals
MTN Makes Takeover Approach for South Africa’s Telkom
- Telkom so far has shown no interest in sale to MTN: sources
- MTN market value is $21 billion, Telkom worth $1.6 billion
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MTN Group Ltd. recently made a takeover approach for Telkom SA SOC in a deal that would have combined South Africa’s second and third largest telecommunications operators, according to people familiar with the matter.
Telkom has so far shown no interest in a sale, said the people, who asked to remain private as the talks are confidential. It remains unclear whether the larger rival will continue its pursuit, the people said.