Rain says it intends submitting a formal proposal to Telkom ‘in due course’

Data-only network provider Rain has retracted a statement of intent expressing its interest in merging its business with Telkom.

“As Rain, we are pleased with Telkom’s SENS announcement stating that if an offer or formal proposal is received from rain, the board of Telkom will consider it. Rain intends to submit a formal, nonbinding proposal to Telkom in due course,” the company said on Tuesday. ..

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