Telkom board rejects Maseko consortium bid

With its share price crashing, the telecom giant might become the target of more bidders — including rival MTN

11 June 2023 - 00:05 By THABISO MOCHIKO

A consortium led by former Telkom CEO Sipho Maseko presented an offer of R46 a share for a controlling stake in South Africa’s third-largest mobile network, but this was immediately rejected as too low and not in the best interests of Telkom shareholders. But Business Times understands from well-placed sources that the parties are still in discussions and a revised offer has been presented which is not materially different from the original one...

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