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Telkom and Rain call off merger talks

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Shares of state-affiliated telecom firm soar as market players were not happy with possible deal

Telkom shares rocketed on Wednesday as the fixed-line operator and data network provider Rain abandoned merger talks, leaving the state-affiliated telecommunications company in the cold after being the object of three separate bids at one point in the past year.

The share price movement indicates that market players are happy that a possible deal has fallen through and were not convinced that a tie up with Rain was best for Telkom. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

 

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