Telkom ‘still evaluating’ Rain acquisition offer
Telkom says it is still studying a proposal by
Rain that would see the former acquire the latter through the issue of
new Telkom shares.
Rain officially submitted a non-binding proposal in September to South Africa's third-largest mobile operator.
In an update to shareholders, Telkom says the board “is proceeding with plans to unlock value”.
“The Telkom board is evaluating the Rain proposal and is not yet in a position to express a view thereon,” the company said on Friday.
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