Telkom has indicated that discussions with Vodafone, and independent talks with a consortium comprising Mvelaphanda Holdings, Och-Ziff Capital and other strategic funders, were ongoing.
“The discussions with the Consortium are still ongoing and shareholders are therefore advised to continue to exercise caution when dealing in Telkom securities until a further announcement is made,” Telkom said in a cautionary announcement.
This followed the initial announcement on July 2, that Telkom had entered discussions regarding the Vodafone Group (which already owns 50% of mobile operator Vodacom) acquiring 12,5% portion of Telkom’s stake in the Vodacom Group. This was subject to the company unbundling its remaining stake in Vodacom to Telkom shareholders.
