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JUST IN | Rain ordered to retract Telkom merger statement | Fin24

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Data-only network provider Rain has been instructed to retract an announcement that it wants to merge with Telkom, with the Takeover Regulation Panel declaring it unlawful. | Fin24

, with the Takeover Regulation Panel declaring it unlawful.

"Furthermore, the announcement was issued notwithstanding the TRP’s instructions to Rain that no such announcement should be made without the prior approval of the TRP," the body said. Meanwhile, Telkom told Bloomberg that it has not received an offer or proposal from Rain."Telkom notes the media statement by rain titled 'Rain proposes merger with Telkom'," the company said."Telkom can confirm that no offer or proposal has been received."

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Fin24 Can the panel please enlighten the public how so, and why this is no good compared to the MTN deal 🙄

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