Telkom gains 5.6% after terminating talks to acquire Cell C
Telkom advised shareholders that it and Oger Telecoms have mutually agreed to terminate the talks.
Three shareholders, Oger Telecom, Lanun Securities (Lanun) and (CellSAF) (Pty) Ltd respectively hold 60%, 15% and 25% of the shares in 3C Telecommunications (Pty) Ltd (3C), which in turn owns 100% of (Cell C) (Pty) Ltd.
At 3.09pm, Telkom's share price gained 5.6% to R64.90 after closing at R61.46 on Wednesday.
Source: BDpro
Source: I-Net Bridge
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