Both companies issued shareholder notices on Friday saying that MTN was discussions with Telkom, SA's third-largest mobile operator, to acquire the entire share capital of the company in return for shares or a combination of cash and shares in MTN.
"Discussions are at an early stage and there is no certainty that the transaction will be consummated," both telecoms companies said. Government holds at least 40% of Telkom, and the Public Investment Corporation around 13%. Telkom announced earlier on Friday that Mteto Nyati, MTN's former CEO and the former group CEO of Altron, joined its board as an independent non-executive director.In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month.
Fin24 It Will Be A Nightmare For MTN To Take Over Telkom
Fin24 ANC is the worst pandemic in the history of human existence.
Fin24 What
Fin24 R100 gets 200 voice minutes on telkom, 100 on mtn for R80. This was one of the reason I switched to telkom. So this 'take over' talk is worrying! Mtn is expensive and telkom is very decent, I've had no issue with it, and contract deals are cheaper and better than mtn' s.
Fin24 I thought Vodacom is the one in talks to buy MTN
PhilaniMhlongo_ Fin24 CyrilRamaphosa what is that you can't sell sir PhalaPhalaFarm
Fin24 I am a loyal MTNza client and if they're gonna join forces with useless never any network scamming Telkom I might as well switch full time to FNBSA because there is noooo network provider that's worth the trouble 😫😫maybe it's time rainSouthAfrica joins the chat
Fin24 the dots are connecting! government stake in telkom will be sold to mtn
Fin24 MTNza while at it fix network 🙁🙁been shitty for days now.. we are tired
Fin24 We one the most expensive data costs in the world how will this help us. CompComSA
Fin24 SAA now Telkom capitalist ANC selling everything including the Nkandla kitchen sink and Phala Phala mattress 🤮
Fin24 Hope the CompComSA stops this monopoly.
Luu_Matinjwa Fin24 These are today's bad news
Fin24 Monopoly nje la
Fin24 Oh my god!! Please do not. Mtn is expensive for nothing. 😭 like this one we must fight tooth and nail against. Is there a petition somewhere!?
Fin24 This is anticompetition behaviour for any person who understands and know how what south Africa telecommunications market looks plz CompComSA if no bribes this transaction cannot go through.
Fin24 Never thought I would be defending Telkom one day. I hope this deal collapses. Gone are the competitive value for money data deals. Gone are the unlocked smartphones and unlocked dual smartphones. Telkom gained so much market share and has been improving on all fronts.
Fin24 No MTN is a scam
Fin24 There goes MoNice😭😭😭
Fin24 Eatists making sure anything that looks like an SOE gets swallowed. They are hellbent on privatizing everything in SA. Where is useless Minister of Telecommunications and the Competition Commission? Lest we forget Bosasa gave ministers and comrades braai packs to auction Mzansi💁♂️
Ofhie57405558 Fin24 Mtn has gone downhill in recent years and Telkom actually got bit better. We can expect Telkom to go downhill if this goes through. Agh!
Fin24 Our CompComSA won't approve the takeover.
Fin24 Here we go!
Fin24 On the other hand, it would mean the state is selling its stake to private…. Privatization of all things… Telkom is not struggling… state owned companies are going.
Fin24 That would be a major over! Biggest catch if it happens!
Fin24 Likit the competition
Fin24 Government revenue would increase if this happens..but not saying anything...
Fin24 I hope they don't succeed... monopoly for high data,smh
Fin24 What about Eskom too🙂🙂🙂🙂
Fin24 MTNza will fuck up TelkomZA just watch the space. Mtn is too expensive.Telkom was affordable
Fin24 MTN everywhere you go🤘
Fin24 That means I'll pay triple of my monthly Data 😢
Fin24 TelkomZA don't let those devils emerge please 🙏🏿🙏🏿🙏🏿🙏🏿
Fin24 TelkomCares MTNzaService this will be another disaster. Both are useless in providing to the needs of clients
Fin24 Telkom, another SOE failure.
Fin24 No ways 🙉
Fin24 Yoh!
Fin24 So we will be in the dark and offline
Fin24 Then we are dead...
Fin24 MTN R150 monthly 1gig... With Fiber be installed all over the country, MTN will be exposed for their ridiculous PRICES, imagine paying R150 for a Gig....... MTN kudala idlala ngabantu, table are turned now 😂😂😂 Mina I'm paying R400 a month and last month I used almost 500gigs
Fin24 But TelkomZA is far better and reasonable than MTNza. The later are gods of scamming. Easy for them because consumers rights are not protected in RSA🇿🇦
Fin24 Why? I've been with Telkom for ages and the service is good and reasonably priced.
Fin24 Some of us are not surprised by the bid on Telkom by MTN! All SOE's must first be mismanaged to dysfunctionality and then sold at ridiculously low prices to multinational corporates on BBBEEE deals with fronted ANC-connected individuals.
Fin24 We are fucked.. Expensive MTN data
Fin24 🤌🏾🤌🏾🤌🏾
Fin24 Holy shit
Fin24 Oh no please, ka masepa a MTN network
Fin24 Ah fuck when I was Abt to switch to Telkom cause of MTN expensive data....let me try cell c
Fin24 The fighting hard to fully privatize SOEs moss
Fin24 So unnecessary.
Fin24 Is that so!!!!
Fin24 Can only be a good thing..
Fin24
Fin24 Monopoly at its best 😨
Fin24 Hai Hai, leave us telkom people alone. We fine with our rates 😭
Fin24 Data prices 📈📈📈📈📈
Fin24 Fuck renyele
Fin24 TelkomZA how true is this?
Fin24 Maybe they’ll aksi fix the network
Fin24 😳
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Source: mybroadband - 🏆 11. / 67 Read more »