rain, Telkom & MTN are dancing a telco titan tango
Telkom itself is in talks to be acquired by much larger rival MTN.
On Friday 30th September, data network provider rain sent a non-binding proposal to the partly government-owned Telkom detailing a plan for the telco to purchase rain in exchange for new shares. This drove the South African telecom space into a will-they-won’t-they between some of the largest companies in the country, if not on the continent.
“The MTN proposal, if concluded, may have a material effect on the price of the company’s securities. Accordingly, shareholders are advised to continue to exercise caution when dealing in the company’s securities until a further announcement is made,” it said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Telkom shares rise after company says MTN talks continueShares in Telkom rallied on Tuesday after the company informed investors that it is still in talks with MTN Group about a transaction.
Read more »
Afrihost beats Telkom and Mweb in brand strengthAfrihost is the Internet service provider with the strongest brand in South Africa, followed by Telkom, Mweb, and Cool Ideas.
Read more »
Rain hikes prices and removes streaming limitsRain’s uncapped 4G customers should now be able to watch Netflix and YouTube videos at up to Full HD quality.
Read more »
Don’t wait two years; get a new iPhone every year at the iStoreSPONSORED |Telkom users can trade in their old iPhone at an iStore and upgrade to the latest model in the 12th month of their contract, while Vodacom and MTN users can choose a new cellphone package from more than 3,000 options
Read more »
Huawei’s loss is Samsung and Apple’s gain in South African smartphone warsOppo also made inroads among Telkom subscribers in 2021 as Huawei sales declined towards the end of the year.
Read more »