Korea Telecom in talks to buy 20% of South Africa's Telkom

News Broadband South Africa 14 OKT 2011
Korea Telecom in talks to buy 20% of South Africa's Telkom
South African operator Telkom is in talks to sell 20 percent of its equity to Korea Telecom (KT). Telkom said in a statement on the Johannesburg Stock Exchange's Sens news service that the companies were entering long-term agreements to formalise the relationship and identifying areas of mutual strategic and business cooperation. Should the deal go ahead, the two companies would issue new Telkom ordinary shares for cash at an issue price of ZAR 36.06. Telkom said that although the talks were "progressing well" there was "no certainty at this stage" that they would lead to a formal transaction.

Categories:

Fixed

Companies:

Korea Telecom,  KT,  Telkom

Countries:

South Africa

Tags:

Company, Corporate, M&A buyouts & divestments

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SOUTH AFRICA 21 NOV 2011

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SOUTH AFRICA 18 OKT 2011

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KOREA, REPUBLIC OF 29 JUL 2011

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