South Africa’s Takeover Regulation Panel has instructed Rain to withdraw a press statement regarding a proposed merger with Telkom.with a proposal to merge the two companies.
However, Department of Trade and Industry’s Takeover Regulation Panel took a dim view of Rain’s approach. “The Takeover Regulation Panel has noted, with grave concern, a press announcement issued by Rain proprietary limited regarding a potential offer to merge with Telkom on 11 August 2022,” it said in a statement to shareholders on the JSE news service.
“We wish to inform the market that the announcement was issued by Rain without the prior approval of the TRP as required in terms of Regulation 117 of the Companies Regulations,” the panel stated. “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.”“Rain has been instructed to retract the announcement,” the TRP said.Rain said a merger with Telkom would create a 5G powerhouse and strong third player to compete with the Vodacom and MTN “telco duopoly”.
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Why all this companies want to milk government entities
So, they just want Rain to withdraw the announcement, right? The merger could still happen if approved by the board from both companies, right?
My excitement aged like milk that's for sure
MichaelJordaan 👀🍿
the party ended before the party packs were even out.
대한민국 최근 뉴스, 대한민국 헤드 라인
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Rain proposes merger with Telkom amid MTN overturesThe company makes a formal request to present the Telkom board with a proposal which would ultimately result in the merger of the two firms.
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Rain proposes merger with TelkomRain proposes merger with Telkom: Data network provider Rain said on Thursday it had made a formal request to present the board of Telkom with a merger proposal to combine the two businesses. They both have a horrible network record. Stop selling Sauth African company's to European's or Americans please stop,let MTNza take over TelkomZA
출처: SABreakingNews - 🏆 41. / 51 더 많은 것을 읽으십시오 »
Rain proposes merger with TelkomData network provider Rain said on Thursday it had made a formal request to present the board of Telkom with a merger proposal to combine the two businesses. they both offer terrible internet connections 🥱
출처: SowetanLIVE - 🏆 13. / 63 더 많은 것을 읽으십시오 »
Rain proposes merger with TelkomData network provider Rain said on Thursday it had made a formal request to present the board of Telkom with a merger proposal to combine the two businesses. Wow
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BREAKING NEWS: Rain approaches Telkom about R40bn mergerThe deal, if successful, could upset MTN’s plans to buy the formerly state-owned fixed-line operator mpholodipooe Another oligopoly approach that is going to crowd out SMMEs Telkom must never accept to sell however the pressure from thieves in Phala-Phala FarmGate and slaves to international thieves like Glencore. Telkom must resist it at all cost.
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