Telkom eyes takeover of Cell C

News Wireless South Africa 14 AUG 2015
Telkom eyes takeover of Cell C
South African operator Telkom's CEO Sipho Maseko has expressed interest in buying mobile operator Cell C, calling it an "interesting proposition", Reuters reported. Cell C's largest shareholder, Oger Telecom, said in March that it was looking to sell its 75 percent stake in the local operator. 

The group's chairman said the decision to sell the stake in Cell C was triggered by the Independent Communications Authority of South Africa's revised termination rates. Bloomberg reported in February that Cell C was working with Goldman Sachs to explore its options in South Africa, including a possible sale. Citing sources familiar with the matter, Bloomberg said a possible sale would be to "domestic competitors". Telkom has not fared well in the mobile space, with the group's mobile unit consistently running at a loss. Maseko said Telkom would buy Cell C at the right price. 


 

Categories:

Mobile

Companies:

Oger Telecom,  Cell C,  Telkom

Countries:

South Africa

Tags:

M&A buyouts & divestments

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