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Ratings agency S&P says MTN’s potential takeover of Telkom could improve the credit rating of the two telecom operators. However, the agency warns that completing such a deal could prove to be a prolonged and complex process.

Earlier in July, MTN and Telkom announced discussions about SA’s No 2 mobile operator acquiring the entire issued share capital of the state-affiliated fixed-line provider, in return for shares or a combination of cash and shares. Talks are at an early stage and there is “no certainty the transaction will be consummated”...

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