Regulator slaps down Rain’s overture to Telkom
MTN may face complication in merger plans
11 August 2022 - 14:54
UPDATED 11 August 2022 - 23:04
A mergers & acquisition watchdog gave Rain an embarrassing public dressing down for issuing a statement about a potential R40bn tie-up proposal with Telkom, ordering the mobile network operator to withdraw the announcement as it had not sought prior approval.
The Takeover Regulation Panel’s order in a statement on the JSE’s regulatory news service on Thursday came hours after Rain said it had approached Telkom about pitching a merger framed as a better alternative to the cash and shares takeover proposal from rival MTN Group...
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.