There are now three entities vying for a lucrative stake in Telkom — MTN, Rain and Toto Consortium — but I suspect two of them will turn out to be damp squibs. 

After a public dressing down by the Takeover Regulation Panel (TRP) for announcing a possible R40bn deal without the regulator’s prior approval, Rain, SA’s data-only network operator, said it intends to submit a formal merger proposal to the board of the partial state-owned entity in “due course”...

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