Network operators Telkom and Rain have decided to end talks that would have seen the two companies merge, following an agreement that a suitable deal was not viable. In a statement on Wednesday, ‘big-six’ network provider Telkom, said “the parties have decided that a suitable transaction is not possible at this time”, following initial discussions to acquire Rain.
Rain, which makes up part of the Patrice Motsepe-backed African Rainbow Capital stable, believed its tie-up with Telkom would have formed a powerful 5G entity to compete with rivals in the mobile operator market The collapsed talks come just over three months after Telkom formally received a non-binding proposal from Rain, whereby it would potentially be acquired by Telkom for newly-issued shares in the partially state-owned firm.
NtandoThukwana At this rate Telkom will be on date my family. They have pushed off advances from MJ🤷🏾♂️(💧) and RM (☀️)