Telkom ends talks to buy Cell C

News Wireless South Africa 19 NOV 2015
Telkom ends talks to buy Cell C
South Africa operator Telkom and Oger Telecom have ended all discussions on the potential purchase of Cell C by Telkom. In a statement, Telkom said through its engagement with Oger Telecom, it became clear that there was a difference of opinion on the valuation of Cell C. As no agreement has been reached, Telkom and Oger Telecom agreed to end all discussions.  

Telkom confirmed just over a week ago it was in talks to buy the mobile operator. Earlier reports suggested that Oger had valued Cell C at as much as ZAR 22 billion and rejected a bid of ZAR 14 billion from Telkom for its 75 percent stake. The failure to acquire Cell C and an earlier regulatory decision blocking a proposed alliance with MTN means Telkom must now consider other options for growing its fledgling mobile business.


Categories:

Mobile

Companies:

Cell C,  Telkom

Countries:

South Africa

Tags:

M&A buyouts & divestments

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