Telkom moves closer to investment deal with KT

News General South Africa 26 APR 2012
Telkom moves closer to investment deal with KT
South Africa operator Telkom is moving closer to a deal with Korean operator KT. Telkom renewed a cautionary notice to shareholders about the talks, which it first announced in October 2011. Telkom said the two companies have completed a diagnostic review and harmonised their respective findings. The companies are now in the process of finalising the terms of the potential strategic venture. Once the terms have been agreed, the companies will present the venture to their respective boards for approval before engaging with key stakeholders and presenting the terms to Telkom shareholders for approval. When it first announced the talks, Telkom said it was negotiating to sell a 20 percent equity stake to KT.

Categories:

General

Companies:

KT,  Telkom

Countries:

South Africa

Tags:

Voice services, M&A buyouts & divestments

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