A shopper walks past a Telkom shop at a mall in Johannesburg. Picture: REUTERS/SIPHIEW SEBEKO
On Tuesday, the partially state-owned telecoms provider said:"Shareholders are advised that Telkom is in discussions in relation to a potential acquisition, which if successfully concluded, may have a material effect on the price of the company's securities." The operator initially tried to take over Cell C in 2017, only to be rejected in favour of a recapitalisation plan led by Blue Label Telecoms, now Cell C's largest shareholder with a 45% stake.