Telkom reports progress in KT talks

News General South Africa 12 MRT 2012
Telkom reports progress in KT talks
South Africa operator Telkom is moving closer to a deal for Korea's KT to invest in the company. The operator said that a diagnostic review has now been substantially completed, and this could result in the Korean company buying a significant minority stake in the company. Telkom first announced the talks between the companies in October 2011, saying the two companies are looking into "areas of mutual strategic and business cooperation". Telkom said the companies are working on finalising the terms of the deal, and discussions "continue to be positive and collaborative". They hope to conclude a transaction as soon as possible.

Categories:

General

Companies:

KT,  Telkom

Countries:

South Africa

Tags:

Voice services, M&A buyouts & divestments

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