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.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now