South African operator Telkom has rejected claims that it has received a US$3bn offer from an Asian company for its mobile and tower businesses.
On Tuesday, local news website BusinessTech reported that an unnamed Southeast Asian group is to invest…
South African operator Telkom has rejected claims that it has received a US$3bn offer from an Asian company for its mobile and tower businesses.
On Tuesday, local news website BusinessTech reported that an unnamed Southeast Asian group is to invest about US$3bn in Telkom and acquire up to 1,600 towers of its towers, referring to a document with the details.
In response, a Telkom spokesperson said the company is reviewing its operations in order to stabilise the business, and is also engaging with various parties about options, but dismissed reports of an offer.
In November last year, Telkom CEO Sipho Maseko had already said the company was considering options for the struggling mobile unit and was in talks with some parties about it.
Reports suggested at the time that mobile rivals MTN and Cell C could be interested in some sort of deal or partnership.
Telkom’s mobile business is South Africa’s smallest player. Vodacom is the country’s largest mobile phone services provider.
In late November last year leading local operator MTN was reported to be holding talks about a possible deal. A few months before that, competitor Cell C was also said to be discussing consolidating opportunities.
Telkom’s mobile business is the smallest of South Africa’s mobile operators, which include MTN, Vodacom and Cell C.
