Telkom gains 5.6% after terminating talks to acquire Cell C

Telkom (TKG) share price rose 5.6% after it terminated talks with Oger Telecoms to acquire all of cellphone company Cell C, Telkom said.
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


 
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