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South Africa’s Telkom in exclusive talks on sale of towers business

South Africa’s Telkom in exclusive talks on sale of towers business

SOUTH Africa's third-biggest telecom company, Telkom, said that it is in exclusive negotiations with a preferred bidder on the possible sale of its masts and towers business, Swiftnet. Telkom, also a fixed-line phone company, said the preferred bidder is a consortium of equity investors, including a Black Economic Empowerment partner, led and managed by a reputable private equity firm. Telkom, which spun off its telecom towers and masts into a separate unit, has been exploring options to unlock value in the business, which it sees as undervalued because it is trapped in the group structure. At the same time, the…
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South Africa’s Telkom says bigger rival MTN has terminated buyout talks

South Africa’s Telkom says bigger rival MTN has terminated buyout talks

SOUTH African mobile operator Telkom said on Wednesday bigger rival MTN Group had terminated talks to buy the former in what would have created the country's biggest telecoms company. Telkom said it could not offer MTN assurances to enter into exclusive talks sought by the country's second-biggest telecoms service provider. MTN said in a separate statement that the companies were unable to reach an agreement on a deal. In July, MTN had offered to buy its smaller rival in a stock or cash-and-shares deal. But a month later, data network provider rain, partly owned by South African billionaire Patrice Motsepe, proposed a merger with…
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