Telkom and Rain call off merger talks
Shares of state-affiliated telecom firm soar as market players were not happy with possible deal
11 January 2023 - 15:19
Telkom shares rocketed on Wednesday as the fixed-line operator and data network provider Rain abandoned merger talks, leaving the state-affiliated telecommunications company in the cold after being the object of three separate bids at one point in the past year.
The share price movement indicates that market players are happy that a possible deal has fallen through and were not convinced that a tie up with Rain was best for Telkom. ..
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