Cell C board rejects takeover proposal from Telkom

Friday 24 February 2017 | 09:17 CET | News
South African operator Cell C's board has rejected a proposal from Telkom to acquire the mobile operator and said it is "unable and not willing to pursue any discussion" with the fixed line operator. Board chairman Mohammed Hariri said that Cell C has already entered into legally binding agreements through which it has committed to a recapitalisation with Blue Label Telecoms, among other parties. He confirmed that Cell C's board has received an unsolicited, non-binding and conditional proposal from Telkom, but that after a board meeting on 22 February, the proposal was rejected, and no

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Categories: Mobile & Wireless
Companies: Blue Label Telecoms / Cell C / Telkom
Countries: South Africa
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