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Telkom acquisition plan points to Cell C

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TOP STORY: Telkom's acquisition plan points to Cell C

Telkom, a long-term suitor of Cell C, said on Tuesday it is in talks on an acquisition, sparking speculation that it is seeking to buy the debt-laden rival as part of its plan to break the stranglehold of mobile giants MTN and Vodacom.

Sipho Maseko, CEO of the landline operator in which the state holds a 40% stake, declined to expand on the company’s target, citing confidentiality clauses.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

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