Telkom confirms it wants to acquire embattled Cell C
Telkom has been investing heavily to beef up its mobile operations, but there are no shortage of suitors for SA’s third-largest mobile operator
15 November 2019 - 10:59
Speculation around Telkom’s possibleacquisition of Cell C was confirmed on Friday when it said it has made an offer to acquire SA’s third largest mobile operator. Telkom has substantially concluded its due diligence, but discussions are still at a preliminary stage, the company said in statement.
The potential acquisition will be subject to Cell C completing a financial restructuring to ensure its gearing levels are reduced to a sustainable level, as specified by Telkom, and commercial contractual relationships are renegotiated to terms acceptable to Telkom, it said. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.