Telkom, Rain abandon merger talks

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South Africa's data-only network withdraws its bid to merge with TelkomZA Rain

Telkom and Rain have terminated discussions relating to Rain’s proposal to merge with the majority state-owned telephony group.in merging with Telkom, in a non-binding proposal last September.

In its shareholders update today, Telkom explains: “After initial discussions, but prior to any due diligence, the parties have decided that a suitable transaction is not possible at this time. Telkom continues to execute its strategy to unlock value for shareholders and will provide an update onSee alsoThe telco’s fibre network, data centres and business operations are attractive in the increasingly competitive SA telecom sector.

 

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